No they will see the VPN service endpoint - the next step of course would be to disallow those connections since you must be hiding something. Only VPN providers (like Corporate ones) that are verified by the state will be permitted. Since the external VPN providers could keep changing the endpoint they will respond with whitelists of acceptable domains. Eventually you will succumb and learn to love big brother.
We'll just compromise a whitelisted end point. The whitelisting would have to be pretty liberal because of corporate and many of us are corporate.
This bill only empowers those with technological skills.