In our case it isn't like the presents are all really expensive, it's literally the number of them that is the problem. I'd actually be happier if our families spent the same money but on fewer things. Like one decent present would be better than three pieces of plastic crap from the same person.
My wife's extended family also really struggle with the idea that I would rather have consumable things (nice beers, a speciality cheese, a treat etc) than some random thing that they think I'll like. I'm no minimalist, but I really don't need or want more stuff in my life and would be far, far happier with something simpler and less permanant.
I've been asked before what I would like for christmas, only to be asked to come up with something "better". So frustrating.
My own in-laws still have younger kids, and they also do fall into the mindset of giving lots of lower-quality gifts instead of less higher-quality gifts. I feel like if the kids get less gifts, even if better, they might complain, but I think they could grown accustomed to it.
It is very uncommon for friends or wider family circles to give anything big to a kid. Maybe clothes, a book, a little toy, sweets, ... usually it is more for the parents, especially with kids younger than 4
I knew one or two exceptional kids that got A LOT, and they were from a background where the parents certainly couldn’t afford it, which somehow makes sense.