Not Sphinx, but several of the sites at http://codespeak.net/ are done with scripts that take ReST text, generates HTML and uploads them to the site. I didn't write those scripts though, but I've used them.
It's a reasonable way to generate sites if the sites need to contain a lot of ReST files anyway, like when generating documentation for python modules, which of course these sites are all about. It's also good if you need the site to be version controlled, because you can keep the source code in svn or hg, or something.
But if you start writing a lot of automatic menues and other extensions, what you will end up with in the end is a content management system. And there is plenty of those around already, so you might want to look at them first.
Another example is the new packages.python.org. There you can generate your documentation in anyway you want it, and then through PyPI upload a zip-file with the docs. Distribute has done this with Sphinx: http://packages.python.org/distribute . But there no particular script is needed, that's just generating HTML from Sphinx documentation.
However...
I must say that I find the idea of writing a blogging software as Sphinx extension a bit funny, especially since there is so much excellent blogging software out there already. And nothing is going to beat Wordpress anyway, and wordpress.com has been a great blogging experience for me. But as an exercise in how much you can abuse Sphinx, why not! :-)