MN is massively grabby when parties are involved, if you can't afford a banquet, a free bar plus Louis Vuitton party bag then don't bother.
I would definitely expect to put on a bit of food if I was inviting people to a party plus a dj/band at a proper hired out venue, I wouldn't necessarily provide drinks.
If it was at my house I would provide food, soft drinks and basic alcohol, I love hosting.
When our kids were little we got engaged, we booked the back section of a pub, bought the first round and provided cake. The pub allowed us to bring our own bubbly for a toast/thanks to people coming. We couldn't afford a buffet but were clear with everyone about what was being provided. Everyone happily ordered a meal in the pub or ate first. These were our closest friends/family so definitely weren't bothered.
I think if there is not going to be food at a party then it's polite to say so people can eat first, we went to a wedding evening reception an hour away once. There was no food as the daytime guests had a hog roast at 6pm, they did cut the cake though so we had a slice each then ordered dominos on the way home. I found that really rude TBH. We didn't stay too long.
For parties at home I would never expect the hosts to provide everything, everyone has different budgets so as long as you know in advance I wouldn't bat an eyelid.