I've worked at ~three places that operated similar to this; "minimum viable scrum" is a good name, or even better, "emergent scrum" because it isn't a process that's designed, its the process that emerges when someone toggles the "agile/scrum" button in Jira, but no one really cares one way or the other. Its a good process.
I've worked in one environment that was hard scrum, had scrum masters, extremely strict. To be honest: I felt almost no stress, but the company also delivered very little. There was a lot of "we can't get to swapping the color on that button until Sprint 18 in three months, but we'll schedule it for then". Missing a sprint was life or death, so every estimate got padded like crazy. When you took vacation, it was common knowledge that you needed to leave halfway through a sprint and come back halfway through another, sprint planning would basically forget about you. That (public tech) company doesn't exist anymore, and it radicalized me against agile/scrum: The entropic end-state of perfectly executed agile/scrum is an extremely well-lubricated machine that actually does very little.
We use Kanban boards to get an overview and prioritize work. Apart from that devs mostly manage their own work.
We're a small shop though, perhaps that's why it works well.
We do not have anything like a SCRUM master.
We don't do stand-ups, we usually don't have a per-release target for features. For example, for the past three months I've had a target of October 1st for a feature, but no specific sub-deliverables for the realeases before that. This is typical.
We don't have a separate sprint retrospective meeting. We discuss such things during our weekly meeting, even between releases (ie we don't wait).
It doesn't feel like what I've been taught and have read about SCRUM. But sure I'll agree it's closer to SCRUM than to the waterfall method.
Scrum masters are needed to coach a new team with inexperienced project manager only. Established teams don't need them.
Stand-ups can be easily replaced by a team chat, such as Slack, with even better results.
I saw very few retrospective meetings too. If everything goes smoothly, then retrospective meetings are useless.
I work for a huge corporation. My team plans and commits to quarterly OKRs and has a team meeting once a week to check in on how folks are doing. There are no sprints and no 2-week deadlines. Once a month or so we update the progress scoring on the OKRs.
Increasingly, iterative models are used and those are much better. For some reason since it isn’t Scrum people still insist they do Waterfall even though they do nothing like it.
Additionally, there are other iterative models than Scrum. That's pretty much the worst one out there and its only value is to inexperienced teams needing training wheels or overbearing management that doesn't trust the team.