I played a bit of bioshock 2 but it not being developed by Irrational and me being unable to play the game for sometime like many others on Steam, I basically passed on it.
I thought Infinite was going to be another game changer for me like Bioshock was, but after playing 4 or 5 hours, I still could not get into it. I never bothered finishing it. I don't know what happened in the time between gameplay demos and release, but looking at those original gameplay demos they showed, the released product took a huge nosedive in overall quality. Honestly, they don't even seem like the same game.
As for the business side, I took a creature design class under Anthony Jones and the topic came up. He basically said Irrational failed because they were keen on hiring friends instead of people who would get the job done. Regardless, the first Bioshock is legendary and the team that was apart of that should be damn proud.