But he also does run a factory with an army of elven slaves. Plus, the gifts are really just a means to an end. He basically uses them to buy good PR in the form of “belief”, which half of all Christmas movies tell us he needs in order to keep his operation going.

Basically, he keeps giving gifts to children for free in order to create adults who are willing to spend money on Christmas later on. The grift isn’t about little Billy who got a Nintendo Switch for free, it’s the office worker who buys 2 dozen useless desk tchotchkes for their team using actual money, the parties thrown with all the expensive decorations and food, and the carrot on a stick of holiday bonuses that keep workers productive throughout the year.