Is a child's first haircut supposed to be a big deal?

We didn't do anything special for it, we did save a lock of hair for the baby book but that was it, I really don't see what the big deal is.

I have heard that in cultures people have celebrations for the baby's first hair cut.  In Hindu tradition the hair is symbolic of undesirableness and so babies have their head shaved bald.  At our home I cut all of the men's hair, so it was just natural to cut my son's.  I did wait until the first birthday mainly because he just didn't have that much hair and I savored every strand to see what color it would be and if it were straight or curly.  After I cut it, i kept it in a little bag in his baby book, but that's about it for me, too.  It was a special day but we didn't make too big of a deal, just a simple rite of his first birthday.

The only reason it was a big deal for me was because my grandmother was a beautician, and she was the one who cut my hair for the first time.  I was able to get her to cut both my son and daughters hair for their first hair cuts.  I took lots of pictures and saved their little curls for the baby books, but other than my son looking more like a little boy than a baby, it wasn't a big deal.