CTLAWYER- there are many ways to honor a simcha without spending so much money.
My parents don’t have the money for such things, so I can’t judge people in that position. However, I know that when I go to certain weddings (like my cousin’s last night), I need to resist the urge to throw up at the amount of waste involved. For what??? For one night??
I personally like small, intimate affairs where the simcha is felt by all involved. IMHO, external extravagance often takes away from the appreciation of the simcha itself.