Yes. For obvious reasons, people are more prone to lose 2FA authenticators (be they code generators or hardware keys) than passwords. Both passwords and 2FA mechanisms are customers of account recovery, which is the process that kicks in when you can't log in. Security questions are a particularly bad account recovery system. Reset emails are somewhat better.

Again, 2FA isn't an account recovery process at all; it's a reason you need account recovery.

To get a general sense of where we're at as an industry with this, look at the process for what happens when you lose an AWS 2FA secret:

https://docs.aws.amazon.com/IAM/latest/UserGuide/id_credenti...