This study investigates the practical merits and limitations of adaptive governance, an approach aimed at guiding the intricacies of climate adaptation in complex socio-technical ecological systems. Despite its recognition as a key strategy, questions persist regarding the potential of adaptive governance as a vehicle for meaningful adaptive change. To address this gap, this paper investigates the governance context of the water-adaptation process to drought and salinity in The Netherlands, with a focus on coastal agriculture in the northern Netherlands. Using an interpretative science approach, the study delves into the experiences and subjectivities of stakeholders engaged in adaptation initiatives combating water-related challenges through semi-structured and conversational interviews. The study presents an exploration of central adaptive governance elements (polycentricity; knowledge and learning; leadership; flexibility and variety; and communication) in theory and relates these to the reality of involved actors. The findings reveal how the aspired polycentric and flexible nature of adaptive governance negatively affects the other elements in practice by affecting collaboration and motivation for adaptation, and observes that (perceived) central leadership is much less influential than expected. The findings contribute to our understanding of the governance of lasting adaptivity, highlighting that the adaptive governance paradigm, although it remains useful, must be re-evaluated for contemporary use. Opportunities for the field are discussed.