In the sense that they're 'doing' the 'industry standard' practice. "There's gonna be problems with anything".

If you missed estimates without agile/sprints, and now miss estimates with agile/sprints, you may think "well, at least we're doing industry standard practices now - estimates are always gonna be missed anyway, but now we're more agile".

But now you have the attendant overhead of planning/meetings which is using up time that could be better spent somewhere else.

Something not necessarily mentioned too much that I see, is that if you actually have all those people (PM, PO, tech/dev lead, etc), is that they all have to be good/skilled and generally on the same page. If two are good and one is bad, it's all bad. The system is only as good as the weakest participant.