I would imagine that whatever material was in the "sludge" you saw was simply living at the bottom of the reservoir. I'm going to guess that we would find similar debris/sludge in our automobile gas tanks, transmission fluid reservoirs and oil pans. Point is that this stuff is not part of the circulating fluid and that all circulating fluid goes through a filter before coming into contact with wear parts. If we trust our filters, and change them regularly, and if we know by hours that the oils have not exhausted any additives yet, it still seems very reasonable to simply change the filters at 50hrs and defer changing the fluid until 400.
I just don't see where tractor hydraulic fluid is that much different from automobile/truck transmission fluid. 50hrs equals 3000 miles at cruising speed. 400hrs equals about 24,000 miles on the highway. Does anyone think auto transmission fluid need changing more than every 24,000 miles?