But without two factor, only your account credentials are needed.
So yeah, it's definitely better than nothing, you are effectively forcing your opponent to social engineer your carrier, and doing that generally requires knowing the full number and usually at least your name, if not more identifying information that's harder to get, like social security number or equivalent.
Sure, TOTP or other two factor mechanisms are better because they require access to one of your authenticated devices (assuming the TOTP isn't done by a secure enclave), but SMS two factor is definitely better than disabling two factor.
No. I did not. Nor do I now.
I had a TOTP setup in 1Password and Mongo was telling me MFA _wasn't_ set up and sending me through the MFA setup flow again.
All options, SMS included, were failing in that MFA setup flow they pushed me in to.
They're back now and my existing TOTP token is generating one time use passwords that work now.