Im currently trying to steer a product team to have this kind of process. They are working with an ancient piece of software that is slowly being replaced. However, we need to replace piece by piece while the main app is still being maintained because of law and workflow changes. This is why i want them to set the requirements and designs up front a bit so we can make a good analysis of it before development starts so no technical difficulties or questions arise mid development! However, nothing is set in stone and after each small piece ( aka after each sprint ) we have our review and product owners and stakeholders see what we have made and can chime in, causing us sometimes to pivot what we were making.
Best of both worlds!