It's talking about craftsmen and how "clever" they are and how you shouldn't mistake their beautiful products for "God" and something from Heaven. I don't think it has anything to do with gifts to one another and to honor the Christ child.

The "tree" is about lumber and building a State building or piece of beautiful woodwork, not a Christmas tree. But the message is similar, don't mistake the Christmas tree (which is pagan, was the way the early German tribes celebrated the winter solstice) for "Christmas" itself; don't mistake the human-created object for the Creator and his Work. But celebration itself is never condemned by God, I don't think, but "what" you're celebrating might be. Dancing around a golden calf is definately not the thing to do; that will get you 40 years in the wilderness :-)