I started working prior to Agile becoming a thing but wasn't around for the entirety of the 1990s. I have seen both waterfall and agile products fail or succeed. I don't think the process is ever to blame when they failed or deserves much credit when they succeeded.
My take on it is both processes have their strengths and weaknesses and perhaps a product needs to start Agile and slowly morph towards Waterfall as it matures.
Agile is great for the pre-1.0 phase when no one is sure what exactly the market needs yet and you're working on a software product with low cost to acquire customers. If you're iterating over different ideas trying to triangulate what is going to sell, and you don't need to scale yet before you figure out if you can sell it, then Agile has a great role to play. This is kind of risky startup time for sure though.
But when your product has become huge, mature, and you're signing $1M+ annual contracts with enterprise customers and your new features are getting very complex Agile doesn't work as well at that point as the tech debt it creates become more and more punishing as the project size grows, and the complex features become more and more difficult to fit into sprints without causing disasters. If a feature takes 6 months it can be a disaster to force it into 2 week sprints that just build tech debt in the name of being able to demo.
I've been on the current product I work on for about 8 years and have watched it morph from a pre-1.0 Agile product to a $500M+/yr complex product. We've been lucky to have good management and the process has gradually changed as the needs of the product have changed.
My career has mostly been enterprise B2B software... the best process for B2C, B2B, aerospace, military, etc.. is not necessarily going to be the same.
One thing for sure though is Agile has largely become a religion and less so of a pragmatic process as time has gone on.