For instance, I’ll happily give you my password to ‘My Vodafone’. It’s nXewr7Vq4f)s9>ky. It really is. I don’t give a shit if their database is compromised, it doesn’t affect the rest of my life.
(I haven’t been a customer in about a decade. The login no longer works. You get the point.)
2FA adds nothing to this scenario. I should assume that an attacker who has compromised the site’s database has also compromised their OTP systems.