This is a digression from the original topic, but my criticism of agile is in fact that nobody is doing it right. If the majority of companies that attempt it end up just wasting extra time, the process itself is broken.
I don't think you can claim that. It's the fate of most popular systems. they end up being poorly explained in elevators or adopted based on a blog article rather than investing the few hours or days or weeks to understand what made the process originally successful. It's so common we have a term for it: cargo culting. I don't think you can fault agile for the tribally-spread BS most places do today where points == hours. If anything, you can maybe fault it for seeming a bit too familiar and simple when there are a few important nuances.