There's a huge implicit assumption in your statement. i.e. that by setting the vision/strategies, the teams will execute and be successful, even if done inefficiently.

Process is neither good nor bad. It's how we define it and apply it that makes it one or the other.

Much of the work we do in business is complex and requires structure and flow to be executed well. Process defines the steps one takes to repeatedly achieve desired outcomes.

You mention Agile, and while the Manifesto references people over process - it's actually "individuals and interactions over processes and tools", the meaning of that statement is not to forego process, but that processes/tools are good (and necessary) but we should focus more on people/interactions. This of course was a response to the "big" top-down SW engineering processes (e.g. SEI) that did the exact opposite.

As Deming said so eloquently:

“If you can’t describe what you’re doing as a process, you don’t know what you’re doing.”

And

“A bad system will beat a good person every time.”

So let's not get too harsh when it comes to understanding the value of process as a component to success in the work we do.