Basically, people who write "Xmas" are taking "Christ" out of "Christmas". My gut feel is that Christ is the very reason Christians celebrate it.
As it is, this religious holiday has been turned into a reason for shops to make more money out of you. Enough people are fooled by the stupid music and countless Santa Clauses on Oxford Street. I'm not particularly religious, but c'mon, people! It's Christmas - at least call it that!