Pack N Plays are a total waste of money in my experience.
Our pack and play was a free hand me down, but it has been used extensively. Baby is in it, in the bassinet attachment for the first 4 months or so. Then in the bottom of the pack and play for another 2-3 months. Then we put the crib together (which takes up a lot more room in our room), until they a year, and move the crib to baby's room. Additionally, the pack and play travels great- ours has been to 6 states allowing us to stay in hotels and airbnbs that don't provide them. The toddler can still use the pack and play when we travel, even though she sleeps on a mattress at home.
I find infant car seats a waste of money. We went straight to a convertible in each car.
We also didn't use almost any "bucket" contraption in the house: no bumbo, rock and play, swing, exersaucer, jumperroo, etc. My friends who are pediatric physical therapists cautioned highly against them. We had a bouncy chair to put the baby in when we showered.
I find this question difficult, as I returned 90% of what was given to us at the shower and got gift cards, which have slowly been used through the years (often not on baby- but on things like Christmas presents...) So for me, I'd populate a registry at a store I know I would use cards at (Amazon or Target) and then plan on returning. We sourced almost everything free or cheap; buying baby stuff new is just silly.
Diapers are a good gift, but I preferred to buy them as I needed them instead of storing them. It also took us awhile to find the brand of diapers and wipes that agreed with her skin.
We did love the boppy pillow for feeding.
We never used bibs. I used a ton of bottles so that I didn't have to wash them often, but they were sourced as freebies. Some babies are also very picky, so I wouldn't buy much ahead of time.
Our daughter didn't take a pacifier as a baby, so all the cute wub-a-nubs were wasted.
Baby carriers are good- but we went through five (Infantino Mei-Tei, K'tan, Ergo, Boba 4G, and Lillebaby All Seasons) before we found what we liked- husband preferred the Boba, I like the Lillebaby. For next baby I'm looking at woven wraps.
I like books as baby shower gifts. Not just infant ones, but going into toddler years too.
I agree with having medicine on hand ahead of time!