Agile does not work:
Not when it is an excuse for not gathering requirements, for not understanding complexities and interconnections. Not when it's an excuse for delays, an excuse for inadequate testing and an excuse for poor management. This type of “agile” only results in a shoddy product that may, by luck rather than judgement, be pulled out of the precipice into something useable.
Even the creator says the "methodology" does not work.
Now that Silicon Valley start-ups run by twenty-somethings are hitting established blue chip manufacturers with the arrogance that the old is bad and the new way is good, I think it is time to stop and learn why manufacturing processes were established in the first place. Eliminate error, remove bottlenecks, get right first time. Doing all the changes in design is much cheaper than in production. These are principals that are not incompatible with software.
You can't build a house using agile more elegantly or cheaply than standard practice. But you can build software the other way around. Which method will stand the test of time? As Nassim says probably the one that has already been around the longest.