I love the advice on this thread. I agree that you should do it if you will get joy from knowing that you did it, without getting any acknowledgement at all from the recipient.
If I could express one opposing view. When my daughter had her first son, I was making a quilt for him for Christmas and my twin sister learned of it, saw photos of the top and made a nicer one (!) and gifted it to them 3 months on my grandson's birthday before I finished mine.
I know it brought her joy to make it and my daughter and her family expressed gratitude and posted pictures of it in their son's room.
My sister always felt competitive with me. I recognize that she really has nobody to sew for (we are orphans) and she has no children. So I just forgave her and gifted my quilt later with no hoopla.
When my daughter's twins were born a month ago her friend's husband's mother (?) gave them two appliqued adorable quilts. I was kinda shocked because she doesn't even know my daughter or her family and has never met them. But several of her friends crocheted blankets and such. And my daughter was gracious and appreciative of all their efforts.
Now I'm waffling on making quilts for my twin grandbabies because quite frankly they have a ton of bedding made by others in their closet.
I know I have to get over it and just realize that whether it's used at all, or inferior to a stranger's gift, it should still be meaningful to my daughter.
Life is short. I should do what makes me feel good and know that my daughter and grandchildren will love whatever I do because grandma made it. So "getting over it" is what I'm doing right now.
But I also know that when I run out of family and close friends to give quilts to, I will be careful to ask potential recipients if their mother/grandmother/other family member/ might be crafty and making them a quilt. I'd like to know that I'm not shortchanging another family member's gifting joy.