No, quite the contrary, the new switching equipment allows the ISP to provide Voip on a separate network from the data traffic. Therefore the ISP can configure the system in such a way that the data network can become saturated while the Voip and Video networks have more than enough bandwidth in reserve.
ISPs will always have an advantage over third party Voip providers when it comes to last couple of miles performance because they control and monitor the pipes.
Vonage (and other 3rd party Voip companies) are supposed to have the advantage of scale and not have the costs required to maintain an infrastructure.
It's too hard to make an absolute statement because the ISP can configure the equipment to do different things. However, typically the QoS function will be limited to the Voice Calls which are carried on a separate virtual network.
By the way, when I mentioned Video before I meant your cable TV channels and on-demand services if you have them. Both streaming video from the Internet and Vonage are considered 'data' by your ISP.
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