To do so takes honor from those the day is meant for.
I think you’re right. The day for wounded veterans, and all vets, should be obvious: Veterans’ Day.
At the Memorial Day service I attended in California, I thought there was too much attention to living people (the board that runs the cemetery, the organizers of the event, etc.) How about some mention of local men who died in the various wars? I also disliked the sloppy attire of some of the vets who were carrying the service banners. T-shirts, not even tucked in. Not impressive.
Best: The local high-school choir, surprisingly. And, even better: All five service hymns sung by the choir director, all by himself in a wonderful bass voice.