I tend to agree with you that the likelihood of getting your email hacked is lower than that of getting SIM-swapped.
With that said, my assessment is that the risk of getting BOTH my password cracked AND SIM-swapped is lower than that of getting my email hacked (and the attacker resetting the app password and then verifying using the email).
I do prefer email MFA over SMS MFA. I feel I have more control over my email access than the customer service at my cell phone provider.
I tend to agree with you that the likelihood of getting your email hacked is lower than that of getting SIM-swapped.
With that said, my assessment is that the risk of getting BOTH my password cracked AND SIM-swapped is lower than that of getting my email hacked (and the attacker resetting the app password and then verifying using the email).