This is good news for Google Android and the Android Market, if Apple decides to further pursue this policy. Can you imagine how secure Google's position in search would be if their competitors censored search results tangentially related to BitTorrent?
Unfortunately for Google, Android is, and will be, crippled at every step by manufacturers and carriers. Apple at least has the luxury of making sure that the iPhone will be crippled in a way that it still remains very useful for most people and that its core functionality is not jeopardized.
It's irrelevant to me too, so I sympathize with this view. Objectively speaking though, BitTorrent seems to have lots of users.
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.
BitTorrent is just a protocol. It's not illegal. It's just a protocol to transfer data. Also used to distribute linux distros amongst other legal uses.
Are these apps that download content to the phone or manage torrents that the users' home pc's are running? If it is the latter, I can see it being very useful for the target demograph.
Google is censoring BitTorrent-related content already. utorrent.com (which belongs to BitTorrent, Inc.) had a Google custom search for torrent files. Google censored it, so now they are using Ask.