I think I've been to the type of overblown party you mean. A friend of mine once threw a massive bash for her daughter's first b-day and served cocktails to the parents, who were expected to dress up. Obviously, it was not for the child. I guess that would be the definition of blow out for me.
But I have heard parents complain about any party that isn't at home and call it "overblown."
Wow, that really is rude. Why can't people just accept that some people find parties fun?