There also used to be pretty strong social expectations to host and visit such parties. That was essentially gone by like 1990, for my area, and I always kind of got the feel that everyone was glad to see the expectation disappear.

They can be fun, but I and almost everyone that I'm friends with much prefer to simply visit and hang out with no plans at all. Just be there, maybe chat a bit, maybe ignore each other and read a book for a few hours, maybe find something to eat / do a lightweight potluck. Which rather sucked that COVID ended up shutting down almost all of our communal places to visit for that.