How do you know it's waterfall-like? If you ship working software every 2 weeks and every 26th one you release, hooray, you have yearly software that's super likely to work well.
Apple produces a new build of iOS or MacOS every 24 hours. For the many years that I had to suffer through that, about 40% of those builds were dogshit and unusable. The public gets the 360th release, and hopefully by then the PMs have driven enough burnout in the engineers that it is mostly acceptable to users.
