Virgin don't use pppoe credentials like a xDSL supplier, VM use the MAC from your Modem to log you onto their network, bit more complicated before folks getting technical but thats the easy way to describe it.
NAT Type 2 is an Open NAT on PS4, if you tried to go down the NAT 1 route even if you had pppoe logins the no-one else would be able to use the internet in your household. A similar way is put the hub in modem mode and only plug your PS4 in to the hub by ethernet. Again nothing other than your PS4 will be able to use the connection.
If you are gaming over WiFi then try it cabled and see the difference. There's a thread on here on how to improve WiFI gaming on PS4.