Yes, absolutely. Recovering lost TOTP keys in a secure way is a difficult problem, and this happens all the time when people get new phones. With SMS the code is tied to your account, not the device.
> Than email?
Probably not much better than email for most users, but I guarantee for a large subset of users the SMS experience is better. With email you need to go to a separate app/page on the same device, with SMS you get a notification on a separate device or a notification popup on the same device (that usually lets you easily copy the code). Again, I totally agree that SMS has issues, but people arguing against it should spend some time in a usability lab with non-tech people - the kind of issues they hit will blow your mind.
> The problem with SMS is that it adds additional vulnerabilities through sim jacking.
Then fix the SIM-jacking problem. Which, I'll note, phone companies have made a lot of improvements in making this harder, and in the US government has gotten involved in making this harder.
Most importantly, note that SIM-jacking is really just a "how do we verify someone who lost a device" problem. That exact same problem exists with TOTP and hardware keys. All we really need are uniform guidelines for proving identity when a device is lost so you're not at the mercy of some low-paid, outsourced service rep to keep your account secure in the face of a persuasive bad guy.