There's a great site for these kinds of questions called Fooducate. Really breaks down the circular talk of food producers.

I think it's so silly to have too many ingredients in a bread. I like the taste of whole grains, but like to be able to tell what I'm eating! I'd prefer a great loaf with a few ingredients. I agree with susan g too - a lot of those "multi-grain" breads are just using grains as a marketing ploy and are really white bread wrapped in a quinoa-flaxseed-amaranth-millet-rye-barley-wheat-rice-teff-oat-corn-sunflower-poppy-buckwheat-spelt cloak!

The more "grains" there are, the less of each there is. Most of this is window dressing. Look at the ingredient list, which is ordered by weight -- more is first, less is last. If the first ingredient is "flour" or "wheat flour" what you have is primarily a white bread. Also, look at the grams of fiber -- more fiber, more whole, although brans can be added to boost the fiber (not a bad thing, although wood pulp used to be used as the fiber ingredient). Actually, my first test for a bread is the squeeze test: no mush! So, what you buy depends on what you want and need -- bypass the marketing!