This is very much historical.
The 11th technically marks the end of WWI hostilities. The armistice between the Allies and Germany was signed on the eleventh hour of the eleventh day of the eleventh month of 1918.
In countries that participated extensively in WWI, November 11th is still a big deal. As a PP noted, in UK and the Commonwealth, it is a very solemn day, much more so than even Memorial Day here in America. People wear red poppies in the lead-up to the day, and the events are serious. WWI was supposed to be the War to End All Wars. It was incredibly deadly, and for many people, it seems like it was a war with very little purpose. Casualties for the armies of the British Empire were ten times the WWI casualties for American forces.
In America, WWI has much less resonance for us. For many, then, Veterans Day seems like a second memorial day, with perhaps less import. I don't think anyone's trying to be disrespectful--I think it's about perspective.