Agile company that is really not agile.
The core structural problem with the Agile industrial complex, is that it doesn't explain that Agile is actually hard to do. It requires a ton of trust and power be granted to the development team. Most companies are not prepared to do that, they want control over the team, and most devs are only used to being told what to do and when. Having the whole team own the product, being involved in working with the PO to define and refine stories, then implement stories from start to QA to deployment, is a lot of engagement and collaboration many teams are not used to. From the other direction, many other people in companies want deadlines, not best estimates from the Agile team when something will be done.
It is not surprising that there are more failed Agile teams than successful ones.