Earlier quoted context omitted.
I think a huge benefit of 2fa, one of the main purposes of it, was for securing accounts with weak passwords. Back in the days before password managers etc. I think these days password managers actually deprecate the need for 2fa
Passwords are an antipattern. Password managers are just a crutch to make it less painful. Password recovery is often done through the phone via SMS (health care/banking) when a 2FA hardware key would be safer. And since you're implementing 2FA, just remove the password, and ask the user to use the 2FA key.
I have a hardware key AND an authenticator app active for the account, but they STILL won't let me send transactions without entering a code sent to my phone number. And actually, not even then, because even though I receive the code fine, they say they can't authenticate me and don't give me a chance to enter it. Yes, it's a VOIP number, but it's been the same VOIP number for the 10 years I've had the account. It's not like it's new.