As you note, the problem is the volume of grains in there more than anything else. It's the third ingredient in terms of quantity in the bottom food, and second in the top one.
Never made any sense to me how much rice and similar ends up in these things... why would a carnivore eat a bunch of rice? I get that it can't be pure meat, and probably shouldn't, but it also shouldn't be significantly grain. compare to Orijen Cat & Kitten (chicken) food, which has beans about halfway down the list.