Some people can do 6 hours a sleep a night for a long time and be fine but I don't think there's much support for maintaining health on 5 or fewer for long periods of time.
Sleep is important and people need to find ways to get what they need. Even people with infants need outside support so they can get what they need. It's not something to be embarrassed about.
Companies should be very cognizant of the types of constraints they may be putting on a work-life balance. Those that don't obviously treat employees as inherently disposable.
Millennial parents undoubtedly have their own set of problems distinct from past generations, but I hope they've learned by now that their parent's views on sleep don't need to be repeated just as they're not repeating the 9-to-5 butts-in-seats mentality that is no longer a universal.