My immediate family and my dad's side of the family have both taken to doing a "secret santa" style exchange, which I appreciate. It's mostly about saving money because the family has grown quite large with in-laws, but I've come to enjoy the experience: everybody takes turns and gets to really appreciate a smaller amount of overall gifts. It helps that my side of the family is done with kids!

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.