It depends on what you define as healthy. If you think anything sold in a supermarket with decent macros is healthy, this is healthy. On the other hand if you think eating historically large amounts of things like calcium phosphate, sodium phosphate, and natamycin might not be good, then this isn't healthy.

The phosphates are what make processed cheese melty fyi. I went down a rabbit hole figuring out how to make processed cheese awhile ago.