Maybe the shut down during sleep is also to allow for a form of pain relief from compressed spines, Sore Paws, Lactic acid build ups, Impact bruising, Fluid deposition, and also the rest to allow greater amounts of blood for other organs other than the muscles for repair and other biochemical operations, as well as giving the brain time to clear it's buffers and run a defrag.
You mentioned above that in a herd all members need to be aware, WHY?
within a social structure, not all members have to be sleeping at the same time, you can have some providing cover for those to rest during inneficient periods for hunting and gathering, I dunno they migh Moo or Bray, Oink, bark or some other communication method to raise any dangers.
I (and approx 8.5% of the population) am colourblind, I also have above average night vision (not all CDV results in greater night vision), I can perform an awful lot better in Lowlight / moonlight / near darkess than most
normal people can in these conditions as I do not depend predominantly on colour for visual enviroment interpretation and seem to have greater resolving power, So I (and others with the same advantage) could be classed as an evolutionary safeguard, security guards pulling the night shift so that others get to sleep soundly in their chosen habitats and digest and conserve energy to go out and gather food for the group, the other advantage is that no-one ever asks us to go out and pick fruit

. evolutionary symbiosis, we get a good periods rest during the nice warmer daytime so we can pull the night shift protecting the rest from all the Ghoulies and Ghosties and things that go bump in the night, for the gatherers and hunters to go out and get food for us (shift allowance for having to pull the doom stag)
The problem here is that evolution should have selected for an animal that didn't sleep yet still performed. There is not one animal in the world that seems to have taken this path. So, since this has not happened, there seem only a few reasons 1) oops 2) it's not actually more beneficial to survival 3) sleep is above and more important to life that evolutionary processes.
Should? I didn't realise evolution had to head to every concievable goal and come up with a viable stable system for that engineered goal, merely what is expediant.
Option 1, err what do you mean by "Oops" are you indicating that someone forgot to include it, or "Oops" Evolution doesn't do what I want it to Damnit! I know I am defining sleep to a degree that applies to animals that are relatively modern and have currently evolved where they require sleep, I know that I am asserting that it would be beneficial to survival, so why hasn't it happened, is it a problem with my comprehension or the question itself, or "oops" HA therefor there is no such thing as evolutin I got you Bow down before my creator (see oops someone forgot to put it in there)
option 2, Or maybe there has already been a high order animal that could get by without REM sleep and it got killed off already because it was a hinderance to survival compared to animals that enjoyed sleepytime, or possibly evolution is heading towards your specified goal and it may take a little while yet, or maybe sleep is as efficient as it needs to be within the current non 24 hour constant illuminated biosphere.
Option 3, WTF Sleep is more important to life than the evolutionary process, hmm do you mean that sleep is beneficial to animals and that is why we have evolved to sleep, Evolution is not change for changes sake, "Congratulations! You manage to get by with < 2 hours sleep out of 24, Advance to Evolve and collect 200 genetic improvements at your next propagation"