EDIT: With UNO and the ability to pin/unpin items from the menu, I don’t think this request is necessary anymore.
The Playlist item on the left sidebar (Plex/Web, Roku, PMP, probably others) is kind of useless and maybe an annoyance if no playlists have been created. When there are no existing playlists, the only thing you can do from within the Playlist library is Import from iTunes (from the Gear menu). For this reason, I suggest the following:
When no playlists have been created, autohide the Playlists item on the left sidebar. The ‘Import from iTunes’ item can be added to the ‘Add Library’ wizard.