It's good to hear that Giannis doesn't have any major injuries. If you guys have watch their game against Boston, there were anxious moments wherein Giannis just fell on the ground and holding into his achilles.
And MRI revealed no damage to his achilles tendon and it it's intact. So that is good enough news for the Bucks as Giannis will have to rest their last remaining games this regular season.
Yeah, the fact that Giannis avoided a major injury is good news for the Bucks. Apparently, he only has a sole sprain, but Doc Rivers said earlier that they don't have a timeline for Giannis' return to the court yet. Either way, the Bucks' medical staff and coaches should keep a closer eye on Giannis' health, as the Bucks are unlikely to make any progress in the playoffs without him.
The Bucks would be a different team in the playoffs without Giannis. Without him, they will be a mediocre team and knowing that it's the playoffs, it will be hard for them. The good thing about the Bucks being 2nd is that, they'll still have time to at least get some rest because they will wait for the play-in tournament to end, and they will see which team they will face. The bad thing is that, there's a chance that they will be facing either the Sixers, or the Heat.
If they will be facing the Sixers, not having Giannis will be an easy lose for them that's for sure especially now that Embiid's back already. If they will be facing the Heat "AGAIN" in the first round, well we know what happened last year. I'm not saying that it will happen again this year, but who knows. That would be the most embarrassing moment for the Bucks, and knowing that they have Doc "CHOKE" Rivers as their head coach, we might see Giannis leaving the team in the off-season.

Overall, whatever happens, the Bucks will be having a tough opponent on the first round. Maybe if it's the Magic that they're facing then they will have a higher chance, or maybe the Pacers, but if it will be either Sixers or Heat, I'm afraid they might get eliminated on the first round again.