Working in IT with a direct day-to-day relationship with end users, passwords are the bane of all existence.
You say email delivery or sms is slow, but how often is it slow for users? Data on this? I personally have never seen a significant delay for an OTP code to either my inbox or my email (Google & Verizon). I have seen users that have an old email configured that is no longer active, but, oh, 80% of the time their cell number is a backup, so resolution is easy enough for them.
You say it’s insecure? Really? So the more than 30% of your users that have their password written either on paper on their desk (most commonly a sticky note or in a small notebook just hanging out on the paper pile) or in an unencrypted note taking app is somehow more secure?
You say it’s inconvenient? What? It can’t be more inconvenient than having to go through a password reset process once a week (which believe it or not, a TON of end users do).
Is any one actually measuring this or is this as an complete echo chamber of nerds that are good with password managers? Because I can tell you with certainty there’s a whole demographic, generation of humans out there where single token logins (backed up by multiple OTP at certain time or event trigger intervals) is BY FAR AND AWAY A BETTER WAY!
You want an example of who I think has this perfected: Affirm.com