The problem is the brand has been captured by consultants selling something that doesn't jive with the original ethos.
You were supposed to talk to the customers. Now you have dedicated POs that determine what the team will work on, but they're also too junior to talk to the customers. It's okay though, you have dedicated PMs that'll talk to the customers, right? Only they're typically to busy pushing a personal agenda to climb the corporate ladder to actually care.
It's cool though, we're agile so we can just change the process? Nah, there's now there's extremely prescriptive processes. Heaven forbid you don't find the hour long retrospectives, that you can't action anything from, useful.
So basically it boils down to the daily status report which ensures you a) show up on time and b) report on your commitments, and generally being forced to overcommit by committe on really short deadlines, so you can be pressured to work free overtime because apparently its your commitment?
Of course, not everyone abuses agile like this. But they don't typically advertise, sell, or even really talk about agile all that much.