And what is delight? For me, delight is born from a tool’s intuitiveness. Things just working without much thought or fiddling. Delight is a simple menu system you almost never have to use. Delight is a well-balanced weight on the shoulder, in the hand. Delight is the just-right tension on the aperture ring between stops. Delight is a single battery lasting all day. Delight is being able to knock out a 10,000 iso image and know it'll be usable. Delight is extracting gorgeous details from the cloak of shadows. Delight is firing off a number of shots without having to wait for the buffer to catch up. Delight is constraints, joyfully embraced.
I want you to consider instead the possibility that Waterfall came to exist, and continues to exist, for the convenience of managers: people whose methods are inherited from military and civil engineering, and who, more than anything else, need you to promise them something specific, and then deliver exactly what you promised them, when you promised you’d deliver it. There exists many a corner office whose occupant, if forced to choose, will take an absence of surprises over a substantive outcome.
Features don’t work, in the sense that they can be easily gamed. A brittle and perfunctory implementation, done quickly, is going to score more intramural brownie points over a robust and complete one. If the question is "does product A have feature X?" then the answer is yes either way.
We use the term feature factory as a pejorative to designate companies addicted to adding features, while accumulating incalculable so-called technical debt. This situation is driven by management for the convenience of marketing, and I am skeptical that a more faithful application of Agile principles will correct it. Indeed, I suspect Agile processes are constitutionally vulnerable to this kind of compromise.
The presence of a feature can only indicate to a user if a goal is possible, behavior will determine how painful it will be to achieve it.