This only helps to get out of that gatekeeping, i.e if you loose your phone now, you're done. This gives you a chance. If they locked you out from your account,

This only helps to get out of that gatekeeping, i.e if you loose your phone now, you're done. This gives you a chance. If they locked you out from your account, you are back to square 1. You can still export TOTPs to other phone directly. You can still make sure you store TOTP secrets on multiple devices/password manager.