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I think it is.

It is, I use it

it's TOTP, but it backs up your TOTP codes in the cloud and will happily restore them to any device that can receive SMSes to your phone number.

Unless you disable multi-device

a feature, that saved my ass after i forgot my phone in the rain (yeah, not smart).

I'm torn between the insecurity of the cloud and being thankful that all accounts could be restored with ease.

It's largely TOTP. IIRC, it's just an additional AND at the end (and selecting 7 digits, not 6).