Sure, but then you can't call it mfa.
No, you're resetting an unknown password, bypassing one of those factors.
i have seen services that send a token to your email every time you log in or when you log in on a new device or when you haven't logged in in a long time. that would indeed be a form of 2FA. but these services also allow you to reset the password through email, so it's not exactly 2FA all the time like most other 2FA setups.