I'm not experienced in this but from what I've read you could just take stuff like modafinil and sleep way less while being productive longer so it's not really a daydream scenario - there will probably be trade-offs but it's achievable.
The "4-5 hours a night" story is so prevalent among government and business leaders that I've always assumed that they are A) lying, or B) medicating to reduce their sleep needs.
President Obama was reported to have regularly taken Modafinil to reduce jet lag while on international trips. He's also reported to only sleep five hours a night. Why not just medicate to increase your productivity for a few years?
Because Modafinil is a Schedule IV controlled substance, and "I want to be a productive superman like President Obama" probably won't fly with your doctor?
Modafinil is not a long term solution. Sleep deficit that you would build up would have to be "paid back", or it would become detrimental to your health.
I'm not sure it's a 1:1 relation, eg. say you cut 12 hours of sleep during the week but sleep extra 6 hours on the weekend or something along those lines - cycling on-and-off according to your schedule.
As I've said I haven't tried it yet will do some research before I do, right now I'm trying out other stuff and it wouldn't be wise to mix so many unknowns.