It is just normal data driven code generation. Although normally you would be using some other variable instead of the observation in the data set. For example some type of record type variable. In which case you only need to generate one statement per possible TYPE value instead of one per observation.
I wouldn't call it "hard coding". It is more of a parameter driven code. It is just that the parameter value are code snippets. But it does open you up for code injection attacks. So you really need to trust the source of that variable with the code and have the proper controls in place to insure the content is valid.
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