The "extremes" are good in their appropriate extreme niche: spacecraft flight control software is definitely engineering and it has to be perfect the first time

The "extremes" are good in their appropriate extreme niche: spacecraft flight control software is definitely engineering and it has to be perfect the first time (no exploration or iteration), while the only prudent and efficient way to publish a website with a day's notice requires a rushed MVP and then as many small edits and additions as fit in the available time. In the middle of the spectrum there are varied tasks, for which an excess of waterfall can force the creation of low-value documents (e.g. hundreds of pages of up-to-date screenshots of complex forms instead of describing in detail only interesting data and interesting workflow and honestly stating that UI layout will be arbitrarily reorganized according to stakeholder feedback after every demo until they are happy) and an excess of agility can be an obstacle to correct design (e.g. publishing a mock incomplete version of some service without taking a couple of days to determine whether the data needed to actually implement it is going to be available).