Overall, yes, I would say things cost more with agile once you factor in the added layers of training, management, certification, and overall developer time lost to it. It seems to expand to fill the time, and budget, available.
Let’s not get into whether the product you end up with is actually the product you originally wanted. I know, I know, agile ‘adapts’ but in many cases it simply isn’t necessary and I think it’s often shoehorned in for its own sake.
I suppose what I really have a problem with are the layers of complexity and accompanying ‘certification brigade’ that the industry has attracted.
Good software takes time, there is no magic method as you rightly say, but often change for change’s sake is just a waste of everyone’s time.