It would certainly curtail Venezia from becoming the premier trading empire. The Serene Republic would at the very least lose dominance in the Adriatic which would cripple any Venetian pretensions as a significant regional power. At worst, Venice could even cease to be an independent state.
The War until the final battle saw Venice's fortunes at their nadir and even its victory was very costly to it in the short term. For Genoa, it had shot its wad and never recovered its standing as Venice's peer.