At most of the teams that have done this sort of thing IME, it has been a disaster. However, I spent some time working with contractors at Pivotal and I met an

At most of the teams that have done this sort of thing IME, it has been a disaster. However, I spent some time working with contractors at Pivotal and I met an EM at one employer, and these people seem to take this stuff super seriously and get good results. The difference is that they do not just have standups and backlog grooming and retrospective. They do EXTREME PROGRAMMING. I am not sure if this is suitable for all kinds of work, but it was highly productive in my experience. In that case though, the answer to your question is still "no," because there is no extra bureaucracy and because the points exist to serve the team rather than management.