Converting 230 kV to 5 V while maintaining the same amplitude, phase, and frequency is feasible using potential transformers, which are commonly used in power stations for voltage reduction. The discussion highlights the importance of ensuring that the lower voltage waveform accurately reflects variations in the high voltage waveform for synchronization purposes, particularly in applications like alternator synchronization. Concerns about the cost of such transformers are raised, with estimates suggesting it could be around a million dollars. Additionally, safety regulations and certifications are emphasized, as working with high voltage requires significant precautions. Overall, while technically possible, the process involves substantial financial and regulatory considerations.