In my opinion, both can be true and it’s not either one or the other:
ML has surprised even many experts, in so far as a very simple mechanism at huge scale is able to produce some aspects of human abilities. It does not seem strange to me that it also reproduces other human abilities, like hallucinations. Maybe they are closer related then we think.
Company leaders and owners are doing what the capitalistic system incentives them to do: raise their companies value by any means possible, call that hallucinating or just marketing.
IMO it’s the responsibility of government to make sure AI does not become another capital concentration scheme like many other technologies have, widening the gap between rich and poor.
Hey, the oficial way are recovery codes. The idea is that you write them down and put them somewhere physically safe.
There is another way: You can register several second factor devices. Just scan the barcode multiple times before proceeding.
Basically any old phone, that you could store somewhere safe. I got two yubikeys that are in physically different locations.
Please note that every additional second factor increases your chances to recover access, but also the chance that someone gets access to them.
By using a password manager and second factor, you are already protecting yourself very well. Where you fall on the security vs convenience vs access triangle, you yourself probably know best.