I have been on teams like that. It's just biweekly planning meetings. I don't see how that means you pay the full costs of something like Scrum.
We planned what we were going to do the next two weeks. During that time urgent work would also be added and other things wouldn't be finished, but they just moved to the next sprint. Releases were quarterly (customers didn't like frequent releases) so not related to the "sprints".
Some managers described this as "Scrum light", fine with me.