Authentication without a password does not mean that you do not have a password.
I take it it it's not clear, what's the difference and what's new with this technology?
What's new here is that you only use a password once when you register on a site (like a site).
Password, of any complexity - for a site always looks different for you, it looks like a digital code. And the numerical code - by appearance of which it is impossible to find out your password.
I still don't see how is this better than 2FA.
The secret password/seed is needed and one more "derivation" component based on time is necessary.
The problem of 2FA is
the way it's usually implemented and used, favoring the secret password/seed being stored on vulnerable devices. But nowadays there are hardware devices handling that too.