Correct me if I'm wrong, but I Luminar does nothing more than change exposure, shadows, highlights, etc.? In the example the dynamic range of the sensor is one of the most important factors, especially for recovering details from shadows in post processing.
With Lightroom, the result looks very similar after clicking "Auto" once, even though I could only test it with the JPEGs.
If you overdo it, you can really still bring out a lot more of the details (and probably some noise) that you don't see in the original (hair, etc.). This doesn't necessarily result in a beautiful or harmonious image, but it should be possible with most tools. Edited image below is drastically downsized to 2048px / 800kb compared to the original (first image). With RAW files even more should be possible. If you do the same in post processing with sensors with low dynamic range or with smartphones, then of course you don't get anything useful.
This is also one of the reasons why I find the 7RIV, or other cameras, so great, because it makes you realize how important and what advantages a good dynamic range has. Depending on the lighting conditions, this has enormous advantages and in many situations (strong dark/bright contrasts, backlighting, etc.) you can simply underexpose and then get a much better image in post processing after raising the shadows.