Imagine someone "enthusiastically digitized" (as much as possible) in a foreign country alone and then they lose their iPhone Plane tickets, all hotel reservations, they don't remember any phone numbers. They use ApplePay and other mobile payments. Cards may be in the same wallet case.
Without a trusted device or Recovery Key, Apple may impose a security delay (24 hours to several days) before allowing a password reset. Getting new SIM and re-authenticating our life will be pain.
What's the difference to losing your backpack containing all these separate items? And conversely, it's very possible to carry a recovery Yubikey, a single-use login code etc. in a separate bag.
Getting a new (e)SIM abroad can be very annoying, depending on the mobile network, which is why I try to avoid mandatory SMS authentication as much as possible.
Temporarily losing access is just inconvenience. Imagine the same but you lost the wallet with your only cash and your passport in pre-digital times, you are far from the nearest embassy and nobody understands your language. You are fully at the mercy of the locals and your money aren‘t coming back.