I will say this: I would rather they show appreciation by giving me a raise rather than treating me a lunch. Employee appreciation lunch is a cheap way to motivate you to work harder for the same pay!! Yes, you may not pay for the lunch, but then may be you have... you just don't know it...
Sounds like Boss's day at the small business where I work. The employees throw a small party using company money so the boss is really paying for his own cake and card.