I don't give gifts. When my daughter was about 10. I told her Santa Claus wasn't coming any more. She said, "I won't even get a chocolate?" I said that maybe Santa would bring her a chocolate.
I told everyone else that I wasn't going to give gifts and wasn't interested in receiving gifts. Over the years, many of them stopped giving gifts too.
When my granddaughter was little, my daughter told me she wanted to follow my no-gifts example, but she felt obligated because her husband's family was crazy for Christmas.
So many gifts are unappreciated. People have very specific wants and needs regarding sports equipment, earbuds, or clothing. They're better off buying their own.
Then there are the "token" gifts, like mugs from the dollar store. Just more junk. And cash is just cash. In my opinion, Christmas gifts might have made sense 100 years ago, but not any more.