Waterfall-Model software engineering. Does it still make sense nowadays?

The term "software engineering" was coined in the 1960s, inspired by civil engineering. The waterfall model, which mirrored civil engineering's step-by-step process, became the dominant approach. This model worked well for embedded systems, which rarely needed updates after deployment. However, as software development shifted towards consumer-facing applications, the waterfall model's limitations became clear. Users wanted new features, improvements, and fixes, which the waterfall model couldn't provide. Iterative development models emerged, involving cycles of planning, building, testing, and feedback. This flexibility allowed software to evolve over time. Today, while the waterfall model still has its place, the majority of software development industry has adopted iterative and agile methodologies. These approaches prioritize continuous feedback and adaptation, and are now the industry standard. The best approach to building software depends on the project's needs, but flexibility is key in modern software development.