Hi,
IMHO simply using the "IP HASH" algorithm with a vSS as a load balancing method does not at all imply employing that thing called "LACP", unless doing so also implies that at this point a vSS object becomes capable of exchanging packets "LACPDUs" with what's on the other side (usually a network switch). If so, it would be the denial of what the VMware company has documented with insistence and persistence over the years.
No joke, there are those who by deliberate choice use "LACP" and have spent "an arm and a leg" to obtain licenses that include vDS object.
An excerpt from this KB article: https://kb.vmware.com/s/article/1001938
.ESXi supports LACP on vDS only.
.(since LACP is not supported on a Standard Switch).
.The switch must be set to perform 802.3ad link aggregation in static mode ON (?!) and the virtual switch must have its load balancing method set to Route based on IP hash.
.ESXi load balancing should match the physical switch load balancing algorithm.
Now, going back to the OP's question, with ESXi distributing the network workload over multiple network interfaces and also having redundancy in case of some types of failures, you get it "out of the box" without necessarily having to touch the network devices. As suggested it is a simple and effective method.
But doing so can mitigate but not prevent the application from suffering from "network problems", because "off the host where ESXi is running" there is something else that can cause just as many headaches.
Regards,
Ferdinando