Versus communism where people (e.g. Benjamin Tucker) were predicting its primary failure mode decades before it ever was instantiated at any scale.
People are the problem.
What I mostly see it is people doing it to themselves. Someone thinks he has to be guardian of the process and refuses to let the experiment run.
I also worked at a funded start up that implemented agile from the beginning, worked pretty great.
Do you really want to go back to the waterfall and V model style of development? Those are basically guaranteed failures in a fast moving industry like software development. If anything your comparison should be applied to the waterfall/V model because it is essentially central planning.
If you are doing things like building MVPs, iterated/incremental development with frequent changes and deployments to production then you are doing agile development.
Maybe it is not hyper formalized like Scrum but it is agile nevertheless.