Reds will be fine. Votto will be fine. Every team has injuries. Dodgers just went all that time without Kemp, then Ethier. Marlins just lost Stanton.
Main thing is that this is not major surgery. It's about a month, arthroscopy.
It may cause the Reds to move more intensively to acquire a bat.
Hopefully the Reds will make wise decisions about replacing Joey and about any possible deal. Team obviously needs lefty hitters.