No. FIDO 1.0 and FIDO 1.1 are more narrow in scope. This is not a federated login system. These are point-to-point authentication protocols that don't involve any third party.
It is a replacement specifically to replace password login and multiple second factor solutions. It will make it far easier to implement registration and authentication but not radically, you still have to do it.
It will also not replace your recovery flow. How to handle recovery is still up to you.
FIDO 2.0 will add some notion of tying together different authentications but still not solve the problem of federation (as far as I know).
For Federation OpenId Connect is still the best, if not optimal solution.
It is a replacement specifically to replace password login and multiple second factor solutions. It will make it far easier to implement registration and authentication but not radically, you still have to do it.
It will also not replace your recovery flow. How to handle recovery is still up to you.
FIDO 2.0 will add some notion of tying together different authentications but still not solve the problem of federation (as far as I know).
For Federation OpenId Connect is still the best, if not optimal solution.