I think if it's done accurately and respectfully like Titanic: Honor and Glory is doing, then it should be okay. As mentioned before there've been hundreds of games set during ww1 and ww2.
Well you can see the accuracy and respectfulness in documentaries and books and such. As for the war game talk, I think that can depend on the stories and how one chooses to play those games.
The site if Titanic's final resting place is a burial vault for over one thousand souls. If they can make a "game"out of that why not a "game"for Gettysburg or Arlington?
As stated above, there are several games about WWI & WWII, about the Vietnam war, about the Chernobyl accident and there are even a few (very obscure) about the Holocaust. So why not about Tiranic?