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UPDATE: 2K says that they will restore BioShock to the App Store as soon as they fix the firmware compatibility issues. The studio issued a statement to Game Informer.
"2K recently provided inaccurate information to customers surrounding removal of BioShock for iOS from the App Store," the representative told us. "BioShock is currently incompatible with iOS versions 8.4 and higher, and as such, is temporarily removed for purchase from the App Store. 2K is fixing the compatibility issue, and when resolved, will place BioShock back on the App Store for purchase. Customers who already own BioShock may continue playing the game with iOS version 8.3 or earlier. 2K regrets the initial customer service error and looks forward to delivering an updated version of BioShock for iOS in the near future."

Original: When iOS 8.4 came out this past July, BioShock didn't really work all that well. There were some compatibility issues that many assumed would be fixed by 2K and everyone would be happy. The fix never came and finally, 2K simply decided to pull the app from the App Store.

That might not be so bad, except they also pulled it from everyone that purchased the game. If you bought BioShock on your iOS device, you better make sure you never uninstall it, because you won't be able to get it back. 2K just Konami'd you.

A customer support response to a fan kind of gives a form response to the situation.
Thank you for contacting 2K Support.

I understand you're having issues with Bioshock for mobile gaming. Unfortunately, you are correct we don't currently have this game for mobile gaming anymore, which I know can be frustrating. The removal of the game was a developer decision. This happens occasionally, but thankfully not often.

I'm terrible sorry for this, if you purchased Bioshock for IOS and you would like a refund, Apple will be of great assistance. Since the transaction wasn't completed through us, we can not perform a full refund back to you. However you will be able to complete a refund with Apple. They will be able to do this for you.

Again, I'm terrible sorry for this experience, but I hope that Apple can clear this up for you as soon as possible.

Here's the link to their customer support, please contact them for any refunds from the App Store.
(URL removed)

If you ever have any future inquiries for 2K games, please don't hesitate to contact us.

Sure, the wording is vague enough that some might assume 2K will eventually get it back out there. However, you also have to remember that this issue first appeared back in July. The company has had months to issue a compatibility fix but it never happened. It could still happen but don't hold your breath. At the very least, it's nice of them to suggest getting a refund through Apple.