Linux kernel is more like Kanban than an Agile project, you can't really compare it to a project with an actual client who pays money to receive features in a timeframe. Stuff gets done when it's done and the BFDLs decide when the feature gets into the actual kernel.
Waterfall-style projects had 3 to 6 month timeframes of delivery and we all know how that goes. The result is always either out of date due to changing requirements or not what the customer wanted because there is no way to change course after the project specification was locked.
...or you spend so much time doing an exact specification that the Agile team has already delivered 3 incremental versions.