No. My family is very generous with presents to the point that it makes my husband uncomfortable. His family is very simple with presents to the point that I originally thought they were stingy. We are each trying to learn each others' families' style of presents. We try to match our gift giving to each families' style of gift giving. It is difficult sometimes.
We don't keep it even. DH is excessively generous at times, so his mom has gotten $$$$ gifts in the past. My parents are set and have everything, so we didn't go overboard with them.
I'll admit, after a while it did make my parents somewhat jealous. And MIL has rarely used any of the $$$$ gifts we gave her.