It's really ½FA, worse than 1FA authentication because it's sufficient to clear any 1 of the 2 factors.
If you had parts of either, or a hint, maybe a previously used password works for "verifying your ID" then I'd call that 1/2FA
If an attacker could access your account without knowing any of your secrets, then it's really 0FA.
To me, a second factor that can bypass the first factor is exactly the same as this situation. Being able to hack your way into an account is a different issue.