Re: "a bed with smartphones on adjacent nightstands"
A smartphone by the bed would only be so accurate, so you'd probably want multiple devices. For sleep monitoring at home that's not a problem, as it takes place in a set location. Just build a few battery operated devices you can attach to your bedroom walls, similar to battery operated cameras. When they need a charge the app will notify you.
I would get this if it were available. There is only so much smartwatches can do for sleep monitoring, but something that could effectively "see inside" your chest to accurately track breathing and heart rate could notify people if they have developing sleep apnea, assess overall sleep quality and make recommendation. Maybe you sleep much better in a particular position? Maybe your sleep quality is greatly diminished when your partner begins snoring, and it could vibrate their smartwatch to wake them so they can roll onto their side? Maybe a pet sleeping with you is causing sleep issues and you might want to reconsider letting them do that? Maybe test out different settings on your "sleep number" bed to find the one that produces optimal sleep?
Given that you spend at least 1/4 of your life sleeping, anything that can improve that will improve your waking hours.