You know what American Christmas needs though? The Krampus.
You can commercialize it all to hell and back for all I care, if we had the Krampus, it would still be way more epic than it is now.
Children are commonly scared into sleeping during the time St. Nicolas brings gifts by being told that if they are awake, Krampus will think they have been bad and will take them away in his sack.
Screw worrying about getting coal for Christmas. Keep that thing out of the house. Bad enough I've seen an example of it in action during a Venture Brothers Christmas Special.
I do like that, at least around my household, everyone's an adult now, and gifts are actually more about the thought than the quality/quantity of it; of course, until the next generation are involved, then the cycle returns. Just a moment while I place some thermite atop my wallet and set it alight. That's essentially what happens.
Oh, about the commercials, obviously the people in them must have some serious income, I mean the kids even get iPads or equal? (And don't get me started on the crappy music and butchered classics they air along with them too; Old Navy is lame as ever, as usual. So they still follow their tradition.)
My views on the holiday on it's own is basically the same as when I was a kid. It's all about the cold (and keeping warm while watching Christmas Specials), hanging out with everyone, and getting stuff that you wanted when the time comes. Follow up with a second Thanksgiving feast on the same night as well.