Like a knee brace, this could help stabilize an already stressed tendon. I'm far from being any kind of expert, but it seems to me it won't really help damage that has been done other than giving it a 'rest' for healing. And of course the taping shown is for one of the most superficial and accessible tendons/ligaments of the knee. There are many and the joint is quite complicated, so my guess is it would be difficult to address multiple stresses with tape without practically immobilizing the joint.
actually, I have some kinesio tape lying around so i might as well try it and see what it feels like. thanks for the reminder.