I agree this kind of sucks (I have about 40 tokens on there), but it's relatively well mitigated with the search functionality and typing the first few characters of the service. This works for all that I've tried except the root MFA token from AWS, and I could easily fix that by exporting and changing the name and re-importing if I wanted to.
This has two things about it that make me actively not want it:
1. Does not work offline (requires an internet connection to work). The current design for TOTP is super flexible as they only require time syncronization, which doesn't require an internet connection.
2. It means I have to install an app for each service, which I absoulutely do not want to do. I would prefer to only use native apps for things that actually need to be native. PWAs and web UIs are strongly preferred for me. A comprehensive and robust way to manage permissions would mitigate my dislike for native apps somewhat, but this is getting harder and harder (though praise be unto GrapheneOS for their efforts!)
From an engineering perspective, it also feels like unnecesary bloat/complexity and coupling.