Since it's not a plain pellet only food, it contains treats, that alone would make me say it's not good. It's also a wheat based food not a hay based (hay is the 4th and 5th ingredients) and contains corn (ground and corn gluten meal).
I copied and pasted the info off the petsmart site...
"Your small animal friend will enjoy a nutritious and delicious meal when you serve this National Geographic Chinchilla Entrée, which is formulated with vitamins and minerals for balanced nutrition. The pellets are loaded with wholesome ingredients, including chopped Timothy hay, rose hips, garden carrots, dandelion greens, oatmeal and parsley to provide an interesting diet and encourage natural foraging behavior.
Features: Chopped Timothy hay, rose hips, garden carrots, dandelion greens, oatmeal and parsley to offer a varied diet; supports natural foraging behaviors; vitamins and minerals promote balanced nutrition; pellet shape; ideal for chinchillas of all life stages
Food Type: Dry Food
Food Consistency: Pellets
Life Stage: Baby to Senior
Primary Ingredient: Wheat Middlings
Package Weight: 2 lbs.
Directions:
Offer food freely in a large, heavy bowl.
Offer fresh food daily.
Clean, fresh water should be available at all times.
Reseal bag and store in a cool, dry place.
Ingredients:
Wheat Middlings, Soybean Hulls, Dehulled Soybean Meal, Ground Timothy Grass Hay, Dehydrated Alfalfa Meal, Ground Oats, Cane Molasses, Ground Wheat, Dried Plain Beet Pulp, Chopped Timothy Grass Hay, Dried Rose Hips, Ground Corn, Corn Gluten Meal, Calcium Carbonate, Ground Rolled Oats, Dehydrated Carrots, Dried Dandelions, Dried Parsley, Oats, Yeast Culture, Monocalcium Phosphate, Dicalcium Phosphate, Saccharomyces Cerevisiae, Dried Bay Leaves, Wheat Germ Meal, Vegetable Oil, Salt, Magnesium Oxide, Ground Flaxseed, L-Ascorbyl-2-Polyphosphate, DL-Methionine, Choline Chloride, Potassium Sulfate, Magnesium Sulfate, Dried Lactobacillus Acidophilus Fermentation Product, Dried Lactobacillus Casei Fermentation Product, Dried Enterococcus Faecium Fermentation Product, Dried Bifidobacterium Bifidum Fermentation Product, Dried AspergillusOryzae Fermentation Product, Torula Dried Yeast,Yucca Schidigera Extract, Fructooligosaccharide, Algae Meal, Ground Dandelion Leaf, Ground Peppermint Leaf, Ground Raspberry Leaf, Anise Oil, L-Lysine, Vitamin A Supplement, Vitamin E Supplement, Vitamin D3 Supplement, Niacin Supplement, Vitamin B12 Supplement, Riboflavin Supplement, D-Calcium Pantothenate, Menadione Sodium Bisulfite Complex, Biotin, Folic Acid, Thiamine Mononitrate, Pyridoxine Hydrochloride, Zinc Sulfate, Ferrous Sulfate, Manganese Sulfate, Copper Sulfate, Ethylenediamine Dihydroiodide, Cobalt Sulfate and Sodium Selenite
Guaranteed Analysis:
Crude Protein (min) 16.0%
Crude Fat (min) 2.5%
Crude Fiber (max) 17.0%
Moisture (max) 12.0%
Calcium (min) 0.8%
Phosphorus (min) 0.4%
Vitamin A (min) 20,000 IU/kg
Vitamin D3 (min) 2,000 IU/kg
Vitamin E (min) 80 IU/kg
Omega-3 Fatty Acids (min) 0.4%
Docosahexaenoic Acid (DHA) (min) 0.04%
TotalMicroorganisms (L. Acidophilus, L. Casei, E. Faecium, B. Bifidum, A. Oryzae) (min) 40,000 CFU/gram
"