I don't understand how people recover from unexpectedly losing their phone. How do you get back into your accounts with 2FA?
The Authenticator apps store keys in Secure Enclave (or at least I hope so). Which in themselves are 2fa by not being copyable thus requiring direct access to unlocked phone before using.
Of course that also comes with bigger risk of you locking yourself out, by forgetting Lock Screen password or phone getting bricked for some stupid reason. Printed paper don’t have that problem, except can also easily be lost.