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At least it isn’t email or SMS MFA.
Sorry, as IT person I have to disagree, app based MFA is just way much easier to maintain instead of HW keys.
Edit: forgot to mention that in Finland companies here has to provide phone if your work require that. In IT I don’t want nothing to do with users personal devices, and it sounds insane to me that in US companies force apps to your personal devices.
App-based TOTP are not phishing resistant and do not require any level of proximity to the login session. The future is more likely passkeys that use device TPMs.