league.
If you consider that WAR basically means how many wins a player provides a team over a "replacement player" (e.g. a mid-season pickup 12th man type of player), the fact that Davies has a positive WAR is a good thing.
As far as where that places him in terms of NBA future, I think it proves that he is an NBA caliber player, but at this point, he's probably more of a deep rotation type of player (i.e. the 9th or 10th man in your rotation). So far his biggest weakness has been his FG% this season. If he can improve his shooting numbers next season (assuming he lands a contract and gets playing time next year), then I think he has a chance of establishing himself as a solid rotation player in the league.