This idea is very similar to a concept from the Toyota Production System (TPS), which led to the more generic Lean Manufacturing and then the application of those techniques to Lean Software Development. The TPS significantly predates the agile movement, with its roots in manufacturing in the late 1950s.
The concept of maximizing the amount of work not done is similar to eliminating waste. In the manufacturing environment, waste includes things like overproduction of goods, waiting for resources, unnecessary movement of people or products, too much inventory, and defective products. In Lean Software Development, these wastes were translated into unnecessary functionality, delays in the development process, unclear requirements that slow the production of software, a lack of testing, and communication delays.
The overall idea of both concepts is the same - things that don't add value are wasteful and should be minimized. The ultimate goal is to increase quality while reducing time and cost to produce.