Earlier quoted context omitted.
The usual rationale from companies forcing SMS two factor is that you need to have a convenient account-recovery mechanism before you enable something strict and lock yourself out. They don't want the support cost of dealing with these lockouts. Unfortunately, these same companies often then claim that there is no harm in SMS two factor since "clearly it is stronger than one factor". But they are blind to their own s…
SMS is already 2fa. You need the sim card and the pin code. Hence a hijacked phone could be seen as stronger than a 1fa password.
Not to mention that traffic inside the network is not encrypted so a lot of parties have legitimate access to the messages anyway.
I understand your point but SMS should not be used as the only factor for authentication.