Earlier quoted context omitted.
Services like Authy address some of the loss of device issue, and always a good idea to have a backup token (e.g., yubikey) physically escrowed somewhere like a safe-deposit box. But it is a whole lot of extra work to set up and maintain long-term, even with the best intentions.
+1 for Authy. Just get a used cheap Android phone for like $30 and use it as the backup device for Authy and never fear about losing your 2FA device again.
For personal use it probably is a good compromise for services which don't implement 2FA properly (that is to say, services that don't allow you to register multiple 2FA devices.) But realistically you might want to just disable 2FA and rely on your password manager.