Apple bans iPhone apps related to BitTorrent
last100.com
last100.com
And speaking more generally, I do believe there is a sense of trust that is broken when a customer realizes that a business is intentionally standing in the way of something he or she wants to do. If that something isn't BitTorrent for one user, it could very well be whatever Apple decides to block next month.
Also: the app in question is apparently a remote control for a BitTorrent client running on a real computer, so it might have wider appeal than your question would suggest.
http://torrentfreak.com/google-custom-search-cuts-utorrent-o...
(And of course, you could always get around this by using a bittorrent client that can be controlled with a web browser.)