Ds's first birthday soon, I planned on getting him a couple of new toys and a special thing for him to keep when he's older. But then I had my first full payday since before I went on mat leave...and I ended up getting him lots more than I originally planned.
I fully expect him to ignore the lot and play with the packaging but he can't become spoiled if he has no concept of wanting and getting can he? He's not getting anything else until Christmas!
I don't think it would spoil him, but as someone who has very little money I am thinking 'why didnt you put it in a bank account for when he is older?!' If you have extra money I think there are better ways to spend it than on a 1 year old who won't be able to appreciate it. But no, it won't do him any harm.
We save some money for him every month, have done since he was born so he will have something for the future it's my savings that need attention now but he will only be 1 once so I truly entered into the spirit of seize the day and all that!
I went totally the opposite and didn't buy my dcs anything for their 1st and 2nd birthdays. Mainly because we were too skint but also because they would never know we didn't (they got buckets of presents from relatives though so they weren't deprived!)
Your way sounds much more fun though! I hope you have a fab day