Here's another review of "Bioshock" that unfortunately implies that the game accurately depicts Atlas Shrugged, even while calling the book "excellent." This quote is most interesting:
BioShock is set in a crumbling underwater metropolis created by Andrew Ryan, an industrialist who felt there should be a place for the greatest minds in humanity to come together without fear of having "the sweat of their brow" taken away from them, by Washington, Moscow or by God. In its pomp, Rapture was a glorious, thriving city, taking this hidden-away section of mankind to extraordinary new heights. Key developments in technology and genetic engineering took place way ahead of the work being carried out on the surface. But then it all started to go wrong and Rapture fell apart. Sounds like a good time for the player to show up.
Up until the last two sentences, that description does sound a bit like "Galt's Gulch" from Atlas Shrugged. Since this is all the review actually says about the storyline, it's a positive review from my perspective. It's only unfortunately that the game doesn't live up to it.