Technology
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Because Two-Factor Authentication is generally supposed to be under the principle of "Something you have and something you know", the password being the "know", and using a TOTP on an app via your phone would be the "have" (the phone).
I suppose if your email is restricted to the something you have/know it's a bit better, and certainly better than nothing - but not by much.
Alternatively, if your e-mail provider does offer a more secure 2FA solution, then sending a temporary code to your e-mail address would be a valid 2FA method by proxy. So it's not entirely a bad idea. (Although I've yet to see an e-mail provider that enforces 2-factor)
Protonmail. I dont have a backup email registered for recovery so if i loose my password and 2fa im totally fucked
Same, which is why I use a password manager and periodically take encrypted backups. The average person isn't going to do that, but I like having the option to use email 2FA instead of SMS, since I can make email 2FA pretty secure, but I can't do that for SMS.