There is a difference between a perfect estimate and what you're describing.
Again, literally no competent stakeholder anywhere is expecting a perfect estimate.
Both agile and waterfall both aim for precise estimates.
With agile you're still aiming to have roughly correct story points, or having roughly enough work for your sprint. But you're moving the yardstick on how often you estimate and how you handle missing those estimates.
All of which is why again, I don't see the point in being so rigid in where one ends and the other begins. Waterfall has gone from a punching bag to a real process people follow by adjustment. People seem to miss that while the "OG" waterfall diagram was supposed to be flawed, even in the same document practical improvements were introduced.
> Again, literally no competent stakeholder anywhere is expecting a perfect estimate.
Incompetent stakeholders are real world phenomenon. In this sense, even stakeholders that are otherwise smart people and competent in other areas often fails in exact this way. Real world companies pay fines for being late. Real world customers without contractual guarantees end up paying more then project is worth too.
> Waterfall has gone from a punching bag to a real process people follow by adjustment.
This is the thing I disagree with strongly. Waterfall is punching bag and is not used in practice at all. It was past being used when I was young. Waterfall was also far from the only process that existed before agile came.
Iterative development process existed long before agile came to be. Agile means nothing and everything these days. Waterfall however is canvas where people project their grievances with other processes. That is why it is undefinable in these threads - it is either about communication, or people being treated bad, or about iteration or host of other practices that companies combine together.
Again, literally no competent stakeholder anywhere is expecting a perfect estimate.
Both agile and waterfall both aim for precise estimates.
With agile you're still aiming to have roughly correct story points, or having roughly enough work for your sprint. But you're moving the yardstick on how often you estimate and how you handle missing those estimates.
All of which is why again, I don't see the point in being so rigid in where one ends and the other begins. Waterfall has gone from a punching bag to a real process people follow by adjustment. People seem to miss that while the "OG" waterfall diagram was supposed to be flawed, even in the same document practical improvements were introduced.