Yes, iExplorer is the perfect app for completely rebuilding your iTunes library from any iPhone, iPad, or iPod, and it works with all iDevices ever made. iTunes won’t let you import all of your albums, audiobooks, etc, but iExplorer can transfer any and all of your music and other iTunes media from your iPod to your PC or Mac and also import your playlists and information about your favorite tracks (the play counts and star ratings for each one).
You can view these articles for more information about this including how to perform an Auto Transfer which will rebuild your iTunes from your iPod in a single transfer:
How is iExplorer different than iTunes?
How to transfer music & playlists from an iPhone, iPod, or iPad
Tutorial: How to recover your entire iTunes library from an iPhone, iPad or iPod