I reckon that the 5th of November has less to do with celebrating historical events and is more about a bit of fun. People say the same about Christmas but I reckon it's much more true about 5th November. Bonfire night is celebrated in many other countries, particularly those influenced in colonial days, where history was barely being recorded in the 16th century. Many Catholics will happily join in the fun.
Personally I can't do with the commercialism of it all (baaa humbug!) Our council kindly lay on a decent display every year but recently this has been surrounded by loud music and dodgy stalls. I took the kids to see it out of earshot of the music and, with a few sparklers, that will be it for us.