Yes. There is exactly that, and we call it an "extraction" tool. It takes a GDS (text representation of shapes in the physical layout), and gives you back a "netlist" (text representation of components and connections in a circuit schematic).

Circuit designers use these tools basically daily for two reasons - the first is Layout Versus Schematic. We want to make sure that the physical layout matches the schematic, so the tool turns the layout GDS into a netlist and compares that to the netlist created from the schematic (basically a diff, but more complicated). The second is so we can run simulations that take into account the "parasitic" resistances and capacitances of the wires and metal shapes in the physical layout. It's basically the same procedure as LVS with an extra step that analyzes the metal shapes to determine said R's and C's.