Here's my say:
Parents can buy their children stuff as often as they like, but make sure that they behave properly before it gets out of hand. I've seen too many times where a kid demands something from their parents and they immediately go and get it, or else the kid raises hell. That is too much. But, if their kids were well behaved and actually proved that they want it, but aren't demanding it or throwing a tantrum or anything, then feel free to buy away. Just don't do it if you're low on funds.
I feel i am spoiled, but I've never thrown a tantrum (at least, not a big one) except maybe 2 or 3 times, and when I did, I got WHUPPED. That's the problem with today's parents, it's not that they spoil their children too much, it's that they spoil their children and don't punish them when they misbehave. A kid could have every toy out on the market and still be able to respect the parents and do his/her chores and such.