What other people spend is irrelevant unless you can see the bigger picture, and unfortunately on here, you can never do that.
Some people spend little at Christmas, but buy their children frequent gifts throughout the year.
Others spend little at Christmas but spend lots on a child's birthday.
Others spend loads at Christmas and waste it on lots of tat.
Others spend lots at Christmas but include lots of essentials that would be given anyway (clothes etc) so that reduces the cost iyswim.
People can also be unnecessarily rude and judgmental in other people's choices. For example on another thread, one poster was incredibly rude about another poster spending 1k on presents for her child, calling her an idiot - saying no child ever needed that amount spent on them. But then later admitted she had spent 2k buying her child a musical instrument. However, as she had not called this a Christmas present, this was okay
.
All that counts is what you can afford, what your children need and appreciate. Their needs and wants change with age too. When my DC were little £50 would constitute a main present. Now my DC1 is a teen, £50 is nothing! Last year she had £300 on her own laptop. She uses this lots for homework. This year it's a new phone. Next year it's £500 for a Saxophone and the year after it's 1k for an upgraded flute (may be the other way round, depending on how long I can eek out her current flute). For some that's nothing to spend, for others that's too much, for others again, it's okay if you buy it on the 24th or 26th Dec, just so long as you don't buy it on the 25th.
Upshot - there is no consensus here - just buy what you want and what you can afford. It's no one else's business.