Usually how it goes. It's like critics of communism. Or libertarianism. Maybe--just maybe--it's a shit ideology that is totally unworkable.
I think my current place is on their, what, 8th "reset" now? Where they try to correct their process because it's "not working." Despite not listening at all to the developers who are telling them week after week exactly what is wrong: management forcing unreasonable deadlines on developers and throwing all process out the window.
It would be more amusing if I wasn't one of those caught in this demented whirlwind.
I think I'll start a new fad. Instead of Waterfall, I'll propose we call it: Typhoon Development. It's where management focuses all their attention on a single project for a short period of time, stressing the developers to the breaking point and eventually moving on. But not before completely destroying the code base in their wake.