Iterative development is faster, but iteration isn’t a speed, it’s a journey. Apple iterates the iPhone annually. So do car companies.
All iteration requires is to try and learn from the previous iteration. Iterative development isn’t faster because iteration is fast, it’s faster because learning is part of the process.
Sometimes the iterations in software are fast. Sometimes they are glacially slow.
As long as you are learning, and feeding the learning back into the next iteration, your software will improve. You rarely only get one chance to release a piece of software. Do your best, release, and learn. Iteration isn’t a speed, it’s a journey towards better.