Somebody please explain Christmas gifting to a Jew

I don't get it. Hannukah is strictly family business, and it's really focused on kids. By the time you're an adult, you pretty much stop exchanging presents, at least in my family.

But Christmas seems so weird and excessive. People buy all these gifts for people that they don't really care about. 50-90% of everyone's gift list seems to be obligation/reciprocity gifts. And everyone has to get a gift from everyone else. Plus there are always randoms that show up at the last minute, so there's scrambling to get them gifts. And the obligation gifts seem so junky and unnecessary. It's always some shoddy product made just for the season like cheap bath & body products/candles/scarf & mittens set/crappy electronics/random gift card to a chain restaurant.

This isn't a criticism at all. I know it's a really meaningful and important tradition to a lot of people. But why? Why do people spend so much time, money and energy, and cause themselves so much stress to participate in this one day gifting orgy to give presents most people don't really want? I get that it's a cultural thing, but I have a really hard time wrapping my head around it.

ETA: I failed to mention I know a lot of people don't celebrate Christmas like this, and there's a huge diversity of experiences. This is more for those that do.