Hi hrap0r,
That's a great question about creating playlists in the Music app on your iPhone. While we don't see the option to add by artist to a playlist, there are still a couple of things you can do to make it easy to create a playlist of your favorite artists without selecting one song at a time. You can add an entire album at once, or you can check to see if Apple has already created a playlist of your favorites that you can simply add to your library.
Create playlists on iPhone - Apple Support has more details about playlists, but here is the option for creating by album.
Create playlists to organize your music
1. To create a new playlist, do any of the following:
• Tap Library, tap Playlists, then tap New Playlist.
• Touch and hold a song, album, or playlist; tap Add to a Playlist; then tap New Playlist.
• On the Now Playing screen, tap , tap Add to a Playlist, then tap New Playlist.
2. To more easily identify the playlist later, enter a name and description.
3. To give your playlist cover art, tap , then take a photo or choose an image from your photo library.
4. To add music to the playlist, tap Add Music, then tap Listen Now, Browse, Library, or the search field.
5. Choose or search for music, then tap to add it to the playlist.
Tip: If you want to add songs to your library when you add them to a playlist, go to Settings > Music, then turn on Add Playlist Songs.
To find out if Apple has created a playlist with your favorite artists, you will want to tap Search and in the search field type in the artists or groups name followed by Essentials.
This should help making it easier to have playlists in your library by artist or group.
Have a great day!