From what we know it's patellar tendonosis. Here's yet another article about it -> http://www.beginnertriathlete.com/cm...articleid=1393
It's not a bad enough injury to make someone change their whole playstyle. It cannot cripple a player's career.
It's mostly a condition. Athletes should be careful when they have this condition and they shouldn't play through pain as it could lead to a more significant injury.
But it isn't enough to turn Danny Granger into a "stretch 4". It isn't enough to turn him into DeJuan Blair. He still has all of his ACLs. His knees are not shot. They are just strained and could use the rest.
Therefore, we have no reason to assume that he will become a stretch 4 that is a defensive liability. Is there a chance? Sure. There's a chance for everything. But I wouldn't bet on it.