It sounds like agile, but really, is putting 12 bazillions features on a website a agile thing ? Agile is a company-level thing, not a development team matter.

Look at this : http://www.justin.tv/ it feels like clutter to me. I suppose that they wish that putting "features" by the dozen will help them getting more users, but I think when your users start to wonder "where do I click next ?" or "what do they want me to focus on ?" ; You are not on the good tracks.

Like soccer : stop for a second, raise your head, look around, if you run fast with your head down, you'll end in the corner.