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It is, but so is the reason that It's a Wonderful Life is a holiday staple in the United States.
Copyright was mistakenly allowed to lapse. So TV stations could play it without paying royalties. So they showed it. After years of showing it, people got attached to a miserably treacly movie and decades later is comes to embody the event.
Many of our traditions are simply things that for some accident of history happened several times in a row and then the masses decide that because it happened three straight years it must now happen every year for eternity or somehow it is indicative of the end of society and loss of social cohesion.
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