Agreed. And you see this pattern used all over the place, for example [1]. It's just a way to say, "I'm, enthusiastic about ____". Fill in the blank with whatever you want.
So, that's predated by https://en.wikipedia.org/wiki/Eat,_Sleep,_Repeat and I suspect many other things. The saying goes back a long time, and it's not clear when it was first adapted to this usage.
But my guess is it entered popular consciousness with the Lasting Kiss lipstick commercial mentioned in http://www.nytimes.com/1993/08/29/magazine/beauty-lips-that-...:
"Put it on. Eat. Work out. Eat. Go to the office. Eat. Sleep with your man. Eat. Repeat the cycle. And guess what? Your lipstick lasts until you take it off. You can kiss those lipsticks stains good-bye!"