If my son gave me a list, and it was all under budget, I'd have no reason not to get it all... but unless money was really tight, I'd still want to add a few of my own ideas.
That said, I really hate ultra specific lists that are basically shopping orders.
I think a lot of children need to be taught that there are two sides to giving presents. It is important what the receiver wants to get, but equally it is important what the giver wants to give. It is perfect when those things line-up exactly, but they won't always, and if you stick to just what the receiver wants, you'll miss some really special gifts.
For example, that jumper that grandma knitted that teenage you didn't really want, but adult you looks back on and loves as a fond memory of your grandma..
Or that useful thing your mum knew you needed and despite seeming boring on Christmas day, ended up getting used all year..
Or the homemade gift that you didn't really want, but the child spent so long making it that it still means a lot to you
etc.
You don't get those moments and that care, if you make it 100% about people get what they want. Instead we all just become amazon/shopping employees who follow a list, do what we are told, and everyone basically just does the shopping/ordering for each other.