What does the MRI results of my knee mean and is the treatment they want to do effective?

The MRI says Focal but moderate to high grade patellofemoral chondrmalacia, with a deep and somewhat irregular fissure and adjacent delamination of the median ridge/lateral patellar facet. There is underlying marrow edema. The menisci, cruciate ligaments and collateral ligaments are all intact. Very mild chondral loss seen in in the medial and lateral compartments. The doctor wants to do an injection in my knee of SynviscOne. I had never heard of this. I don't know if this is effective. Has anybody had this problem? I don't understand the MRI readings and I'm not sure what effect the SynviscOne will have? Any help will be appreciated.