The new Hell I'm experiencing is everyone wanting to validate my identity through my phone. Email does it, banking does it, I suspect by the end of the year Windows will probably be sending me a code before I can log in. I'm sick of it. I don't like needing to have my phone on me, I don't like the fear that if I lose my phone I'll be locked out of everything, and I really don't like being forced into this. It feels l…
SMS TOTP is indeed bad and your suspicion is well warranted. Its a lazy way to implement 2-factor authentication and exposes the user to MITM attacks as well as a host of other nastiness. U2F (stuff like what Google Authenticator does) is way better and less phone dependent. The only reason a team would opt for TOTP if they had the resources to implement U2F is because its a good way to get your phone number. Edit: e…
SMS is vastly better than nothing, and it has the benefit of not requiring users install random software that they (a) don't know how to install, (b) don't know how to use, (c) don't have a recent enough device to use, (d) you don't need to worry about them deleting the app and then losing their 2f, (e) doesn't require your customers having an account with (and potentially paying) another company just to log in to your site, etc
I really do think that tech people over estimate the proportion of people for whom at least one of the above applies. Not everyone runs a one or two year old phone, many of the very cheap phones run very old versions of android, can't be updated, etc
Obviously SMS 2FA has a different problem as the sufficiently poor may not have a constant phone number, obviously sim hijacks can happen but the targeting requires much more effort than simply moving on to the next non-2fa account.
[edit: updated to make sentence structure not look like a series of wordle guesses]