I wouldn't mind multiplayer Bioshock if it was like The Ship, but this looks like random death match dogshit.
If you haven't played The Ship, it was all about killing another person in secret. You had to worry about not looking like a lunatic and making your victim suspicious, social status, security, basic bodily functions (sleeping, toilet, cleanliness), and the person who is coming after you. It was awesome because you had to play mind games with your victim, like pretending you were getting chased, running into the same room as them and trying to keep the door shut; in the moment when they think you're not hunting them, you drive an axe into their back. Judging from the audio diaries in Bioshock, it seemed like everyone was a bit messed up in the head, but hid it because of their social status. It could have been similar.
The Ship was so awesome. The best would be getting your victim to suspicious that they would take out a weapon to attack you, but you planned for it and exposed them in a crowd, so they were sent to jail. Then you lurked outside the jail, just stalking them and waiting for their release; you've already bribed the guard and have your weapon out (in this case, a poison needles that causes them to vomit to death).