I definitely think they can and are often overdone. Where I'm from civilian fireworks use is very uncommon unless you're out in the sticks. So we get at most 2 municipal fireworks display per year, New year's eve and Canada day. New year's eve fireworks happen some years and don't others.
I personally love fireworks. The awe of the display is never lost upon me. I can see it becoming old if it's something you deal with all the time. That isn't an issue here though and I always step outside to watch them when a display is done locally.
People launch large mortars in my area of 75,000 residents on a regular basis. It can scare the shit out of you if you're not expecting it. Sometimes people get shot over here as well. I wonder how the gunshot listening stations differentiate those noises.