The only real problem with it is the somewhat high levels of linoleic acid in bacon, but that's true of all pork. Nitrates are not a problem - you would get more from a stalk of celery than a pack of bacon. The rest of the ingredients are not a problem in the amounts you would get - but I wouldn't recommend eating a lot of it. Tyson does suck as a company, but so does ADM. And Monsanto seems especially evilz.
I really wouldn't worry about it. I take the approach of making small changes over time that add up to better food quality. For example, I have sources for pastured chicken eggs direct from farmers whose farms I've been to (and other farmer's at farmer's markets that seem reputable), but I still eat regular cheapo eggs due to convenience. But I am working to get all my food from better sources. It's not easy when job/commute/wife/kids suck up most of my time, but it's worth the effort in terms of my health.
Oh! And to actually answer your question... Well, if it was in front of me, I would probably eat it. But I don't think I'll buy it in the first place - I prefer to cook my bacon. We usually have bacon once every two weeks and its Oscar Mayer, cuz that's what the wife buys... (Sometimes I'll get some awesome pastured bacon at the farmer's market, but nobody else in the house likes it but me. Hmmm, maybe that's not such a problem, now that I think about it. Sounds like a trip tomorrow!)