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Study finds 268% higher failure rates for Agile software projects
(www.theregister.com)
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Agile software development bases on four core values (paraphrased to make them more drastic but not change them in their meaning):
I am not surprised that this fails miserably.
I understand the frustration; almost nowhere does agile "right". However, this is a gross misrepresentation of the philosophy.
Specifically it leaves out and ignores this very important part:
As seen on agilemanifesto.org
The base philosophy is meant to remind us what we are here to do: make software (or whatever project we're working on), not become dogmatic about processes or tools or get bogged down in peripheral documentation.