I've heard this line of reasoning before, not in reference to Bioshock but other games, and it's redonkulous. Unless you can upgrade them all RIGHT AWAY, the ability to eventually upgrade them all does not negate the choices of what to upgrade first.
Overal though, "tactical choice" isn't the only thing that makes games fun. In fact, I'd go so far as to say it makes game intellectual, which is different from fun. When I want "tactical choice," I play Puzzle Quest. When I want action, I play a shooter.