It used to be predominantly women who did it. It was part of being a housewife. Joy of Cooking even has an entire chapter dedicated to hosting a dinner party. But now women work for billionaires too. Nobody has time to work for themselves.
1000%, but I didn't want to make my post too long.
If you want a kick, read through the 1957 edition of Air Force Social Customs [0].
It makes you realize how the art of entertaining has atrophied over the decades.
[0] https://archive.org/details/answerbookonairf00wier/mode/1up