The last "agile" shop I worked at instead did 10+ small projects in parallel (1-2 devs per project) and then wondered why we never got to where we wanted to go.
Outdated or missing critical documentation, or too junior (or too lazy) coworkers would definitely have made this approach fall apart and that's a big risk of it IMO.
It was almost like they were optimizing for bus factor.
It was completely brain scrambling and unsatisfactory work as it was constant musical chairs.
Rotating between each project on a weekly basis, however, that seems awful.
Unfortunately, too many people can't be arsed to actually understand things like the OODA loop, Cynefin, and the other things that describe precisely WHY that is a good idea. But hey, they do standups.