When did people stop being happy someone thought of them
Probably when most people had the money to buy themselves whatever they wanted whenever they wanted, within reason, and if you don't, you don't want to be exchanging things that no-one really wants with other adults.
We don't have to wait all year to hope that someone's going to buy us a dressing gown, photo frame, box of chocolates etc etc, most of us could go and get whatever we want, whenever we want, so we don't really need others to do it for us at Christmas.
Many people have houses crammed with stuff, plus food, drink, clothes etc to a level that it causes us stress and if we don't, it's probably because we're ruthless declutterers and most things that are bought as gifts will be sent straight to the charity shop, thus rendering the whole exercise a waste of time, money and resources.
There's plenty of ways to enjoy Christmas that don't involve exchanging stuff with other people. Just get together and have a drink, food and a catch up. Go and look at some sparkly lights, go for a walk, watch some Christmas films, play some games together etc etc.