It turns out the procedure works to create a TOTP factor when factorType = token:hotp so you are correct, more of a labelling thing. I’ve opened a support case to see if there is/will be a way to add a true HOTP (counter based) factor profile. 
It turns out the procedure works to create a TOTP factor when factorType = token:hotp so you are correct, more of a labelling thing. I’ve opened a support case to see if there is/will be a way to add a true HOTP (counter based) factor profile.