the more processing that is required just to make become tasty, edible. the less nutritious it is
IMHO processed food is fine every now and then. They are also what we'd end up storing for emergencies due to the packaging and shelf life. Not something to consume everyday though.
Nutrient loss from processing can be made up with other products. My main concern is we don't exactly know what's going inside the container and thus buying processed is a matter of trust. For example, even a well-known (at least in Asia) luncheon meat brand from China have gone through multiple recalls within the past 2 years.
if you cant recognise the ingredients by looking at the meal. it aint good for you
if you cant recognise the ingredients label on the packaging. it aint good for you
This clearly can't be good for you, then:

Oh my gosh! Every banana I've consumed don't have a label. Could I have been eating counterfeit all my life?!