And I would counter that ALL my VoIP traffic needs a lower latency than your netflix. Netflix can buffer for 60+ seconds if it needs/wants to and you won't even notice, while delaying VoIP traffic for 60 seconds makes voice calls useless. Not all traffic requires the same type of handling for optimal usage.
Some traffic requires low latency and low bandwidth (VoIP). Some requires high bandwidth but tolerates high latency (Netflix). Others, like email and downloads of any type (FTP, HTTP, bittorrent) are tolerant of both.