Most of my freelance projects and technical coaching gigs in the last few years where at companies that were in or after their "Agile transition". And most got "Agile" horribly wrong.
I think cargo cult is an issue, but the problem goes deeper. I wrote a conference talk titled "Your Company Will Never Be Agile" around that topic. The gist is:
Many C-level executives want "true business agility" for their company: They want to be able to react quickly when circumstances change. Many "workers in the trenches" (developers, testers, ...) want to be able to do good work and provide value to the customer.
But in established companies, the organizational structure, processes and policies, annual budgets, KPI and bonus systems and middle management prevent the company from becoming truly agile.
So, young, small companies are more agile, because (among other things) they did not become a bureaucracy yet, they are mostly run by engineers with not much middle management, and because of survivor bias (they do not have a war chest yet, so those that were not able to react quickly do not exist anymore).
Unfortunately, there is no English recording (but the slides are here: https://speakerdeck.com/dtanzer/your-company-will-never-be-a... ).