This is no different than most other activities in life. See the Stanford marshmallow experiment.
No part of agile says that you get rid of planning and organizing, it is just done in smaller slices in shorter cycles.
Having used both over 25 years, I wouldn't look back at waterfall for any project except the very smallest. No-one allows you to lock some requirements in for 5 years any more, something that was accepted back in the day. I have plenty of examples of waterfall projects that delivered a number of things that simply weren't required any more and that was a failure of a long-tail project plan.
Agile also allows you to work iteratively on a project that is never finished i.e. SaaS, which is not possible with waterfall.