As it is so often in life, extreme approaches are often bad. If you do pure waterfall you risk finding out very late that your plan might not work out, either because of unforeseen technical difficulties implementing it, the given requirements actually being wrong/incomplete or just simply missing the point in time where you planned enough. If you do extreme agile you often end up with a shit architecture which actually, among other things, hurt your future agility but you get a result which you can validate against reality. The "oh, I didn't think of that" is definitely present in both extremes.