All managers not only engage in waterfall, but covet all of the privileges of waterfall. The ability to tell lessers what to program down to the line of code is the ultimate expression of power for people who will never, ever be C-level. And to top it off, they use their powers to force you to compel you to agree that their practices are agile.
Agile has never, and will never exist when micromanagement is a good enough drug for those who will never reach actual influence.