First-generation 2FA solved basic credential compromise issues using code-based methods (e.g. TOTP/HOTP). Modern 2FA (e.g. push notifications) adds authentication integrity, phishing resistance, and user validation through real-time, context-aware approvals.

Passkeys replace passwords and also render basic TOTP/HOTP-based 2FA unnecessary. However, they do not replace modern, push-based 2FA, which may still be needed in higher-assurance or enterprise scenarios.

Regardless personally I am waiting for full FIDO Alliance interoperability/sync, so I'm not locked into a single password manager. I've already had to migrate password managers after my choice was taken over by Private Equity.