Example: The US healthcare system. The financing is through socialist policies (Medicare, state assistance, regulatory requirements/incentives for employer-provided insurance), but the system itself if thoroughly corrupt and inefficient.
Example: "Affordable housing" subsidies/requirements. Instead of actually addressing high housing costs in general, set aside an inadequate amount of substandard housing with burdensome hoops to jump through to get it and call that a solution when it isn't.
Example: Environmental rules that apply to where a product is manufactured but not where it's sold, so that instead of eliminating pollution, manufacturing jobs move to countries that allow pollution.
The half measures are the worst of both worlds. You get the inefficiency, incompetence and unaccountability of central planning and the externalities, corruption and high prices of market failures.