Should We Celebrate Other Life Events as Much as Weddings?

I came across two artcles seeming to advocate opposite views towards weddings.

Though his own wedding consisted of a ceremony in his house attended by his cats and the bride's parents, the first author, nevertheless, understood why couples spent large sums to commemorate such a momentous life event.

http://www.theatlantic.com/sexes/archive/2013/03/no-more-hand-wringing-about-how-expensive-weddings-are-please/274407/

The other author appears to advocate the notion that the importance we place on weddings is outdated, and other milestones should be equally, if not more, celebrated. She provides a list of suggested alternative parties intended to better reflect today's rites of passage.

http://nymag.com/thecut/2013/03/parties-we-should-have-instead-of-weddings.html

What do you think? Are weddings over-emphasized or are they worthy of the status we place on them?