On the corp side, the economics here are pretty clear. Let's assume, for now, that the runner doesn't want to trash their stuff.
If the runner has 1 card of a given type installed, there's no point in playing this, since it costs you +2 and you only get back 2.
If they have 2 cards of a given type, you are spending +2 and getting back 4. That means, you're spending a card and a click to get 2 credits. That's worse than a Beanstalk Royalties.
If they have 3 cards of a given type, now it looks okay. You're gaining a net +4, which is the same as a Hedge Fund, with only a two credit investment instead of five.
Anything above that, and this card starts to look really good, offering a significant amount of burst economy for a very low investment.
But, there are two catches. The first is that the runner has to have at least 3 cards of the same type installed for this to be worth playing, and realistically you're hoping for 4. In the late game, this is easy--most runner have at least a killer, a fracter, and a decoder, and unless they're running hardcore event econ they probably have a handful of resources as well. But this means that Biased Reporting can't fire until the late game, which is a disaster if you get it in an early hand and have to patiently wait.
The second catch is the option for the runner to trash their stuff. Now, most of the time, the runner isn't going to want to trash a card for 1. That's a pretty bad deal, especially if the cards in question are their key breakers or economy cards. But, trashing a card to gain AND deny the corp 2? Suddenly, that's a 3-credit swing, and more importantly, it keeps the corp poor. In the extreme case, the runner could clear their entire board, making this card a 2% loss for the corp instead of a gain.
This means that Biased Reporting is never going to be the card that enables a last-ditch effort. If you are sitting on 2 credits and just need a couple more to win, then unless you can bluff the runner out super hard, it's game over.
Overall, not a bad card, and against decks that go all-in on a particular type of gear (Off-Campus Apartment decks, or basically any Hayley deck) it can be an insane value. But it seems like a card you run as a 1-of or 2-of, to reduce the risk of drawing it at a bad time or in a bad matchup.