If a client wants to invent their own meanings for words which diverge significantly from those generally accepted in the community, I'm going to be extremely concerned about our ability to communicate effectively, and take a hard look at whether the risk/overheard of the minefield lurking in our vocabularies is worth the money.
If a customer thinks shipping once a year is "agile continuous delivery" they are wrong, just like if a car on the freeway thinks "35mph is fast enough" he is wrong. I mean, for him, sure, but not when attempting to interact with others cooperatively.
Though I'd probably humor anyone's belief of anything for enough money. And while I'd certainly prefer to work on a project that's actually doing agile, I don't doubt that under some circumstances it's more appropriate to do a traditional waterfall (and call it that).
