One of my SIL's (We'll call her cheap SIL for the rest of the story) tried that at Christmastime when my other SIL offered to host the holiday but could only serve tacos as the main dish due to financial difficulties.
The rest of the family was totally fine with that. We knew their situation, and that SIL really wanted to have the day at her home. Everybody else agreed to bring the appetizers, desserts and beverages to help out with the costs, and we were all looking forward to getting together.
It's not about the food anyways, right?
The one who complained (cheap SIL) wanted a sit down dinner, as tacos weren't a "proper Christmas dinner" but never has parties herself unless they're ones that she'll make a profit from and didn't offer to host this holiday. When she does have the gift grabs (birthday parties/confirmation/communion), she is very cheap with the food and beverages. She is not one to ensure her guests get enough to eat nor does she care about the guests food preferances at all.
Cheap SIL threw a @#$% fit, but never offered to host the holiday herself. They grudgingly went, and were served tacos. Cheap SIL didn't bring anything with her either. I'm sure the only reason they showed up is so that her kids got their gifts.
The last party cheap SIL threw was last month for her daughters confirmation. For about 20 adults there were 2 large pizzas, a tray of cucumber sandwiches and a jar of salsa and chips. Oh yeah, there was pop too.
We left hungry, and aren't making the 4 hour drive next time she has a party.