Since TOTP seeds are long-term shared-secrets which are all that is needed to complete 2FA, and rarely/never rotated unless someone knows they were compromised, even years-old database compromises (old backups, etc) means current TOTP 2FA is also probably compromised.
Which is not true of some other 2FA mechanisms (which is my point - I never thought about it before, but TOTP has a specific failure mechanism that not all 2FA mechanisms have). I still prefer TOTP to auth codes over SMS, but I wish there was something better (TOTP with seed rotation, auth codes over more secure channels, etc).