This design comes from multiple requests for a 10GbE and 1Gb hybrid environment. Many organizations want to make use of the investments they have made into 1Gb infrastructure for as long as they can and therefore this has been a common request for a design.
This design makes use of Enterprise Plus licenses to enable bandwidth control on the 10GbE network. If you do not have Ent+ then consider pinning VM Network to vmnic4 and Storage to vmnic5 using a single portgroup per traffic type.
Please note that this and all my other designs should be considered starting point for your own specific design. There is no one-size-fits-all configuration, only good practises to minimise risk, maximise throughput and to get the best return on investment.
If you need to present iSCSI straight up to a VM then this can be enabled by adding the Storage VLAN to the list of VLANs that can be accessed within the VM Network portgroup. I try my best to avoid doing this as it opens up the Storage layer to attack, but sometimes this is a requirement for some organizations.