We - parents of adult sons with their own children - do the visiting, by invitation. We go for brunch to the family with youngest children, after they’ve opened their stockings, and for late-ish lunch and early evening to the other. We live close to both now, but when we didn’t, we rented a place nearby over Christmas and did the same.
Both my daughters-in-law’s parents do something similar. Youngest DIL’s parents go to her for lunch and to her sibling for brunch, oldest DIL is an only child so her parents visit Xmas eve to Boxing Day.
All the children therefore stay home with their parents but get to see wider family.