AIBU to keep my child's Reception party small and simple?

[Satwaiting]

There seems, to me, to be a bit of ‘one up man ship’ at school re kids parties, reception class where everyone gets an invite.
AIBU to invite just 10 and have a small party in my garden- I’ve a mud kitchen, a trampoline, and a slide/swing set. I mentioned this to another parent and was asked if I’m getting a face painter or entertainer and after looking that’s another £200 at least.
I was going to make a graze board with small sandwiches, cheeses, crudites, fruit bits, and make cupcakes (to hand out) instead of a birthday cake, but someone else said get a caterer in- been quoted £250! Whilst I’d appreciate someone else doing it, that seems a lot to me.
I just don’t think kids need all this, or am I being old fashioned? Money isn’t an issue, but will the 5 year olds be bored at a party like this.

Meh where do you live? My kids went to private school but parties at reception age were just a few round someones house with the usual games. Then things progressed to bowling or soft play. Then lasers etc. Sure a few people did more extravagant things like go karting, dry skiing and adventure playgrounds but there was no sense of one upmanship and I don’t know anyone who actually got it catered (other than the soft play/trampoline usual fare of sandwiches or pizza). I think I only did whole class three times, and had joint birthdays a couple times too to help cut costs.

@Katieweasel We found dc liked our improvised obstacle course in the garden.