Waterfall doesn't mean not to iterate. It also doesn't mean to not build prototypes or MVPs. It just pushes the risky decisions back to people that are actually paid to make these decisions. Scrum is not just a framework for micromanaging, it also conveniently removes any domain responsibility from management. It's always "the team decides". (Of course, just on paper. Try to decide to do tech debt only for a couple of sprints with your team and see how management reacts.)
Besides, waterfall is just the straw man of scrum zealots. I once proposed a new team structure where frontend and backend wouldn't be mixed because I observed that most stories didn't have an overlap but where rather mostly one or the other. The scrum master was shocked that I wanted to get rid of "cross functional" teams: "What do you want to do instead, waterfall?". For them it was inconceivable that cross functionality was not equivalent to scrum.