This is how this scenario probably plays out:
Santos is out for a good while and when he comes back, if Jon is still champ, the UFC will give him tough fights, stall him, and they can ride Jones out 'til he happens to lose.
It's most likely because Thiagos knee will probably never be quite the same, opponents will target it, and he will be slower, older, and having lost his momentum when he returns.
Hope he comes back miraculously and finishes and dethrones Jon, though; Marreta reminds me of a Brazilian viking