Your advisor is not wrong that bonds have a purpose in the portfolio. Stocks can get hammered far worse than they were in 2022,...(edit)
Since your TIPS are now earning current market rates, over the average fund duration (6.7 years) you will get back to where you started if interest rates stay where they are and if interest rates decline back to pre-2022 levels, recovery will happen faster. (edit)
You should probably sell any in taxable and get the tax loss, but you should work with your advisor to figure out what to hold instead. ..
Note that holding TIPS is a pretty good idea and if you are properly diversified, there will ALWAYS be part of the portfolio that is lagging behind the others. As long as it's not always the same laggard, you are doing fine - in the 2008 downturn, bonds illustrated their value by doing well compared to stocks for instance.