It's a good summary.

I would emphasize that development team is supposed to have full trust and control which makes for healthier working environment and better productivity.

That is a common obstacle in many companies as high management doesn't really trust their development team but it rather controls them, leftovers from Waterfall where people on top (early phases), are considered more important that people below (later phases).

So when they "switch" to Agile there is no any real transformation but adding short sprints and meetings and expecting faster product development from the team.

Agile is about team adapting to what they see as the best way they can work to fulfill clear business requirements.

And that is usually biggest point of failure.