Earlier quoted context omitted.
At least they offer codes via email. I can (and do) secure access to my email account and domain registration with a very long password and a Yubikey. That’s “good enough” for my purposes.
Most email is unencrypted during transit, so a state level adversary can still easily intercept it. For most people this is however sufficient.
As for email being unencrypted, I think most of it now is encrypted during transit (thanks to the Big Two providers knocking points off a spam score if a message does come via TLS) and even if it weren’t the password is also not known so the second factor is not useful. For example, I just tried to log in to chase.com and the code they emailed me at 1752 MST is 067315.
If I’ve been phished so hard that posting this is useful, again I’m screwed.