LO
In the software industry "Waterfall" is very much not the cool thing. It's "Agile" all over the place now because we all know waterfall is bad.
The problem is that people pretend to develop stuff in an agile way and yet really don't. Their entire modus operandi is to "promise the moon" to customers and once you've done that, what else can you do than set out on a waterfall approach - you can't reduce the scope of what you're doing because you've only got the contract based on your promises.