Is this different than their Amber Bock? I suppose "all malt" could be comically referred to as "a good solution to the hop shortage", but I know that's not what they mean.
I'll have to go look for it, but there was quietly a change in the Michelob brand a while back where they went back to an all malt recipe (So this beer would fit in). At the time, rice (which is pretty much panned by a lot of beer "enthusiasts" as a cheap filler) was selling for more than barley malt, if I recall correctly.