No, the most basic scenario is: Someone uses their phone as their only computing device. Their phone gets destroyed or stolen while they're far away from home

No, the most basic scenario is: Someone uses their phone as their only computing device. Their phone gets destroyed or stolen while they're far away from home to require a plane flight to get back. Perhaps stolen along with their ID. How do you recover when your logins are passkey only and the passkeys are gone with the stolen phone?