I assume his agent will shop his services around, especially if someone would be willing to give him a standard contract, but you're 100% correct in that this is good news that he at least has a spot.
This is probably a make or break it year for his NBA career. As I understand it players can only be on two-way contracts for a max 3 seasons and this would be year 3.
Theoretically I suppose if he doesn't make this NBA roster after this year he could just take a standard G-League contract to chase an NBA dream, but those contracts are significantly less than what he would earn overseas.
I know some people want him to go somewhere other than Minnesota, and I understand the reasoning behind it. But who knows if he'd get a deal with another team. I'd rather see him in Minnesota than see his NBA career end ealier.