The main benefit behind TOTP is that you can tie its value creation to a second factor, such as something you own like a device (instead of something you know like a password).
It’s arguable that you’re removing that second factor when you store the parameters needed to create the TOTP in the same place as you store your passwords.
It’s arguable that you’re removing that second factor when you store the parameters needed to create the TOTP in the same place as you store your passwords.