I primarily use a quilt system, even to -5*F. When it gets near those temps, I’ve experimented with using an IR reflecting VBL and found it can be helpful. On one hand, you can’t wear clothes puffy insulation within the IR reflecting VBL, which is kind of a negative, but on the other hand if your quilt/system is warm enough you might not need to.
Unfortunately another issue specifically with IR reflecting VBL’s is that it will only reflect IR where there is a free air space between you and the surface of the VBL. That means the part of the very top of you will not be reflecting IR most likely (since it is being pushed down by the weight of your quilt or bag), but in those gaps on the side, it could. Also, if it is not cold and dry enough, it can increase humidity enough to cause condensation, which will reduce the IR reflection. (This is why you get much less sky window IR radiative cooling with cloud cover vs clear, dry skies).
Anyways, some of them are quite light weight and cheap, maybe worth experimenting with? And IR reflecting or not aside, VBL’s have the nice benefit of keeping most of the extra moisture out of your sleep system. You do need a good baselayer system that handles moisture well though.
But I’m more in the camp of wearing insulated clothes inside the sleep system, all in all. But if that is not acceptable, I wonder about taking a large piece of fabric, getting a very light weight synthetic insulation and attaching a little insulation to the sides of that fabric to fill in those more void air spaces on the side. Could be made very easily and cheaply. It would only weigh an ounce or two more than the product that uses very expensive down since most of it would be a single layer of fabric without insulation (and with no sewn through baffles). I’m just not sure if it would stay in place well or not. Probably depends on the type of sleeper you are.