Has anyone tried late-night thoughts worth the hype? [v1]

This came up at a meetup recently and the room was split, so curious what the broader community thinks. Been thinking about this for a while and curious what the community thinks. Posting this here because the relevant subreddit has gotten too noisy lately.

I want to write something more comprehensive about this later but starting with a quick post to gather thoughts. Spent the last few weekends digging into this and the deeper I go the more questions I have. The trade-offs here are not obvious to me and I keep flip-flopping.