Depends who's behind the wheel. If you look at Agony's PvP basic class killboard you can see they regularly take down battleships using 10 absolute newbies in frigates. Not all of those are a gank fit either. I took that class a few years ago, it was a blast. We got a ratting domi among other things.
Check into the Succubus for a 266 DPS frigate fit using t2 modules. Five of that would melt any vanilla battleship. Rifters, Incursuses and Imicuses are not terrible with the "all Vs guy" behind the wheel. I can get 120-odd DPS out of a Velator, even. So if you were a 3 week old guy fielding 4 t1 drones and a t1 tank you'd have been a very, very juicy target for a pack of frigates. That's typically who you find ratting in lowsec belts. Older characters are grinding empire missions in faction fit marauders or are ratting in 0.0.
I used to rat in 0.0 using a slightly modified PvP template megathron (a bit of history: megas were excellent PvP ships before the nano nerf). It was exciting. I'd warp out to a distant roid in the belt then try to pick a roid to warp in right on top of the rats, hoping I'd have enough cap to MWD and finish them before cap ran out. Every so often I'd get a warp in on some fool molesting another ratter which made it all worthwhile. Nothing like landing 4km from a force recon tanked for EM/therm in ye olde blaster mega.
Yeah, of the two I killed, one had ECM, so they might have been trying to jam me. It wouldn't help against the drones, but it would have kept them from getting neuted and pointed. Of course, it wasn't a ratting setup, so I had ECCM fitted.
I actually use my PvP fit Thorax to rat. It works well, and allows me to engage anyone I feel comfortable engaging without redocking to get a new ship.
Last night I went out with a fleet again. I flew my Helios to scout. I found a Cerberus at a belt, and then a Drake warped in on it and killed it. Our tackle came too late to get the Drake, but luckily he came back to try to gank our tackle. In came the rest of our small fleet, and in came the rest of his fleet. It was amazing how one sided the battle was, since they had numbers and were using sniper setups at range with EWAR support, and we had only close range RR BS's. We wiped the floor with them anyway.
I went into the next system, and saw a Armageddon warp to the gate we were at. He heard about us in his intel channel, and made the decision not to jump into the system. He instead warped out to a safespot. I launched my probes, found him, got a warp-in and called for tackle. He was dead shortly afterward.