Process is valuable, but too often people fall into the trap of trying to trust everything to process. Which will never work. A process is like a little code snippet. The best processes involve heuristics which complement the experience and judgment of human beings in the loop. Otherwise you just get a kafkaesque nightmare.

Agile has some special additional problems, including a misleading sense of detail, a tendency towards short-sightedness, and misplaced credit for success on the process. Having a ton of "artifacts" or stats doesn't mean you have the right data, or even enough data, but if you have a lot of interesting data you tend to fall into the trap of believing you know everything. Agile's short planning windows often means that you don't get proper credit for long, drawn out work and planning very far ahead. This is actually intentional, as Agile/SCRUM have been designed to get productivity out of unproductive and dysfunctional teams, but sometimes you need more than just stumbling along. Also, because Agile has a lot of detail to it people tend to give it credit for successes due to the post hoc fallacy (e.g. "we did Agile, and then we shipped a great product, yay Agile!").