Virgin traditionally use a HFC or "Hybrid Fibre/Coax" network. In a way like FTTC - fibre goes to the street cabinet (which is powered) then coax to the individual houses. This is the older, smaller box. They use a protocol called DOCSIS for this, in most areas DOCSIS3.0 is used, in Gig1 areas, DOCSIS3.1 is used (although only on the downstream right now). This is why Gig1 needs a new modem.
Their new areas, where they are rolling out now, they use "RFoG", or "Radio Frequency over Glass". They save significant cost by putting fibre direct to the premises. This means they don't need power to their cabinets, which are now passive devices. The larger box houses a fibre media converter, that has the fibre go in one side, and coax come out the other (for the superhub, TV boxes etc). This device also needs power, so there is a wall wart indoors.
The newer option is better, in that the coax is only a couple of metres long so has less chance for interference. In theory it allows for higher bandwidth future services, as they can push GPON over the same fibre if they want, but it seems VM are reluctant to do this as they want to offer the same products nationwide.
In many ways however, it's the exact same protocol, with the exact same issues, over a different type of physical medium. It's still DOCSIS, it's still subject to contention, it still has significantly higher latency than VDSL/FTTC let alone what most people call FTTP. It still has limited upload speeds (although future DOCSIS versions might improve this).
While RFoG technically *is* FTTP, I wouldn't put it in the same category as GPON, XGPON, etc as other providers (BT, Cityfibre, etc) are deploying.