wassail vs celebrate

wassail is a noun but celebrate is not a noun.

Word	Noun	Adjective	Verb	Adverb
wassail	Yes	No	Yes	No
celebrate	No	No	Yes	No

As verbs, celebrate is a hypernym of wassail; that is, celebrate is a word with a broader meaning than wassail:

wassail: celebrate noisily, often indulging in drinking; engage in uproarious festivities
celebrate: have a celebration

Other hypernyms of wassail include fete.

wassail (noun)	celebrate (noun)
a punch made of sweetened ale or wine heated with spices and roasted apples; especially at Christmas

wassail (verb)	celebrate (verb)
propose a toast to	have a celebration
celebrate noisily, often indulging in drinking; engage in uproarious festivities	behave as expected during of holidays or rites
	assign great social importance to