Have you ever dug down to find out why you think it is annoying. It challenges some preconceived idea of yours? Maybe your pride would begin to be bruised?
The idea of the humble gift given and received with love is very very old. This is why the song has been a perennial. Quibbles about what a sinless babe might or might not do in such a situation are beyond the point... and even there, one could argue that if the babe was caught in the right mood, yes he would like it.
It’s a wonderful, serious Christmas Story that actually includes the birth of Jesus. In context, the song is lovely.
And then Rankin/Bass sold out and produced 20 holiday horrors.
I agree with every one of your comments. While it’s not a favorite of mine, the song carries a beautiful Christmas message.