"Agilistas like to pretend that if you're doing waterfall you can't ever go back to the previous step."
The Agilistas are correct.
The reason for this is that Waterfall was constructed deliberately as a strawman. The very point of constructing Waterfall was to draw a distinction between the process as it was being presented to the VP, or in this case as it is presented to the customer, and the fact that in practice it doesn't work at all and therefore it could not have been what actually happened. Therefore, given that it isn't a possible process anyhow, we should embrace an iterative approach, because ultimately there's no alternative. We should face up to the truth and thereby learn to take proper advantage of it, instead of sneaking it in the back door, hiding it in shame, and deliberately doing stupid things that can't work because management thinks it makes them happy. And in this case, there's no possible way that that is an accurate description of what happens in any significant project that company undertakes.
If you don't understand that Waterfall is not and never was a "real" methodology and don't grasp the history, which it seems still almost nobody does, then you don't really get what's going on. And attempting to rehabilitate Waterfall into a real or viable methodology is metacontrarianism [1] run amok. There's no point in performing CPR on a scarecrow.
[1]: http://lesswrong.com/lw/2pv/intellectual_hipsters_and_metaco...