What does ("Of Many, One") mean?

Does it mean "though we are different in many ways, we form one country (the United States)

Context:
The presidential oath of office, the only oath detailed in the Constitution, does not contain the phrase "so help me God" or any requirement to swear on a Bible (Article II, Section 1). The words "under God" did not appear in the Pledge of Allegiance until 1954, when Congress, under McCarthyism, inserted them. Similarly, "In God we Trust" was absent from paper currency before 1956, though it did appear on some coins. The original U.S. motto, written by John Adams, Benjamin Franklin, and Thomas Jefferson, is "E Pluribus Unum" ("Of Many, One") celebrating plurality and diversity.