That might work, although I suppose you’d need some sort of thermal imaging for those dark nights. Never tried it myself. In any case, you’d still need a couple of guys who are awake.
I don't care if all you have is a 40' sloop, if you don't set a watch while under way, you're criminally negligent.
Forget the pirates -- unlit fishing vessels, drifting deck cargo off container vessels, anchors dragging, etc. And if you don't set a watch while at anchor, you need to have tin cans on the deck lines to keep the locals from stealing your outboard motor.