Naw. This surgery happens in baseball pitchers yearly and they come back better than before. It's not like the old days where they're done and or never the same again. He'll be back in a year.
It's very rare in NFL QBs though. In fact, the only NFL QB that I can find that actually had it and came back to play was Jake Delhomme... and he came back only to have that awful game in the playoffs where we picked him off approximately 780,000 times. He was never himself.
Rob Johnson had the surgery and never played again, despite attempts at comebacks in training camps.
The way the QB throws the ball is considerably different than that of pitchers. Obviously medical science has evolved since 2008, but I'm not liking the chances for a guy that's a 7th round pick and might not be able to come back and throw to a bunch of All-Pros by the time roughly two years go by.