Scripting Languages could be pretty usefull if you have to solve expressions at runtime.
E.g. do queries with Lua-Jit can optimize the necessary code to the current hardware and more important to the specific query.
If you have a use-case with many conditions it's also helpfull to use a jitted scripting language which can switch the cases but with branch prediction in modern cpu this advantage is less effective.
The description of render passes, render targets, which objects have to be called in which pass and so on can be done with pure data.
If a scripting language can provide a superior solution is hard to tell because it depends on some factors like how often you change the pipeline or how complex the code is to process and execute the data.
On top you have the useability.
I worked with data driven render engines but only protyped a script based render engine and my impression was that the work is not worth it.
It took a lot of work to implement the scriptable renderer and performance wise there was no difference.
As already mentioned by Hodgman a really good example of data driven rendering is Stingray but you will find detailed slides by the old name Bitsquid.
Microsoft wrote a c++ jit to build optimized database queries for Bing and they extract this knowledge and code into a open source standalone library.
Which is pretty usefull if you do gamelogic with data only.
Beside of performance you have the usability which is pretty important if you don't work on a tiny project.
If you have a huge code base then it will take a while to compile it and then you start to put the parts which frequently change into data files or allow to use scripts.