While there are scenarios where 2FA can maintain security where a password is compromised, it's absolutely true that for a large swath of practical threat models, almost the entire benefit of 2FA comes in the form of assigning the shared secret instead of letting the user pick a weak and/or widely-reused password and the "having a second factor" bit doesn't really factor into the picture in any meaningful way.
These weaknesses are implementation specific. FIDO2/U2F is unphishable, requires proof of presence, and is a significant security win over a strong password.
I'm not calling it a weakness. I'm saying that the alleged advantages of the 2F in 2FA don't normally matter to people who just want to their shit to work.
