It's not as strong as storing them in an entirely separate device (although hardware keys are even better).. however I suspect most people would have their 2fa generator in the same place as 1password (eg. Google Authenticator on the same phone).

It still provides improved security in case of things like server-side credential breaches.

They discussed it on their blog here: https://blog.1password.com/totp-and-1password/#totp-isnt-the...