[aethos]

I think it's a matter of degree.

If you usually sleep 7 hours a night, and you're only getting 4, then you will feel tired grumpy and sad. But if you stay up all night, you may start to feel euphoric and energetic. Of course, you'll need a good long sleep the next day or so.

[lazyasciiart]

According to the article, this is the case for slightly over 50% of people. Hardly good enough odds to suggest that someone who doesn't experience this is just 'doing it wrong'.