Folks keep mentioning "illegal" fireworks. Are you sure they're illegal? My state legalized a LOT of fireworks 3-4 years ago. It used to be it was illegal for anything to shoot into the air. I think, under pressure from the public, they legalized pretty much everything.
I'm pretty sure they are legal in my state, but non-town sponsored fireworks are definitely illegal in my town, yet they've been going on off all week long. It's not like we have a shortage of professional shows here- my town has a professional fireworks show every single Thursday night from the end of June through Labor Day, and the town sponsored two additional professional shows over the last few days for the holiday. At least with those, it's only 15 minutes long (I am not a fireworks fan.)
To answer the OP, in all of my 40+ years, I have never seen the lead up to July 4th be like Christmas. July 4th seems to be celebrated even bigger now than it was when I was a kid. It's the busiest travel week of the summer (and the busiest travel week of the year for my town... we go from a population of 9,000 to 75,000.) I've attended a July 4 gathering for the past few years, but never did as a child or young adult. My family would go see fireworks if they were happening (we were usually in a small beach town that sometimes had money to do them but often not), but otherwise it was just a regular beach day.
There were several prime time July 4th events televised here (I always watch the Boston Pops), but like someone else mentioned, there's no incentive to show special themed movies when people can access them anytime they want through streaming.
I am aware some places celebrate Columbus Day (NY) but never did as a kid. I lived in NJ for a long time as an adult, in a very Italian area, and they'd acknowledge it, but not with a parade or anything. The real celebration came for St. Joseph's Day in the spring. Now I live in a state that does not even acknowledge Columbus Day. It's not a thing here (anymore, at least- it may have been at one time.) We do have Indigenous People's Day the same day other states have Columbus Day.