If you preserve the l2 distance you preserve the inner product, that's somewhat tautological in an L2 space. Just that the degree you can preserve inner products can be misleading, main problem is that orthogonal vectors may only become near-orthogonal which is sometimes a big deal, though perfect correlations are preserved because the JL transform is linear. Both can be seen looking at: https://en.wikipedia.org/wiki/Polarization_identity