That would be the only thing that makes sense actually.

I have various old phones at family members' homes that still speak ISDN or "regular landline" to the respective router. The router used to also connect via ISDN and/or regular POTS to the phone company at various points in time. Nowadays it's actually some sort of VOIP protocol as well and those old phones don't care. Nor should they need to care.

Nor should a caller somewhere on the other end of the world care about that and vice versa what that caller uses to connect to their provider.

If VoLTE doesn't support that, then color me unimpressed and fully against it. Not that I can stop it, but it would be completely utterly stupid ;)