I don’t think it’s beneficial. It seems that amyloid plaques are cleared from our brain while we sleep; and that a build up of these plaques is associated with Alzheimer’s and dementia.
Sleep is also critical for our ability to convert short term memories into long term memories.
As a parent, I can assure we my spouse and I have gotten significantly dumber when our kids were youngest because sleep was so hard to come by.
I’ve never done it but apparently it is thought to be helpful for some cases of depression.