One problem I've noticed with agile is that developers may not be the bandwidth choke point. If you have a multi-stage dev pipeline-- say with a user-testing,

One problem I've noticed with agile is that developers may not be the bandwidth choke point. If you have a multi-stage dev pipeline-- say with a user-testing, audit, or compliance phase somewhere in there-- it can become the bottleneck. If you have devs who can potentially push through N story points per sprint, but then it goes to {user testing, audit, compliance, QA, etc} that taps out at smaller M points, there's a lot of slack in the system.