It's almost certainly far more nuanced a situation than the initial reaction has credited it for.
From a Liverpool fans' perspective it is absolutely awful. You can see all the pieces are there for a "what the fuck" reaction. And rightly so.
However, railing against Topshop assumes a number of things; that the t-shirt range was designed in the UK, that anyone dealing with the t-shirt would know enough about football for this to trigger their minds, and that a set of designers and managers would knowingly commit career suicide to print a vendetta t-shirt that might sell 2-3k units at most.
Clothing lines like this aren't mulled over by thousands of industry doyens, it'll have been conceived, and green lit by perhaps a couple of dozen people at most. My friend who designs for another high street retailer has an absolutely tiny team that are constantly under pressure to knock out trendy designs and in her words "we often put out any old shit to complete a collection".
Because we as Liverpool fans are so steeped in 1989, the 96 and all the shit that came in the next 30 years, we have every right to be sensitive about it, but let's not seriously think this is a crazy conspiracy by a high street retailer to get under the skin of Reds.
For some cultural context, 96 was the year that one of the greatest rappers in history - Tupac Shakur - was killed in a drive-by shooting in Vegas. Rumours abound that it was a contract killing ordered by rivals of Shakur (including Biggie Smalls and members of the Cripps). A ton of the narrative around Tupac death and the subsequent murder of Smalls surrounded karma and revenge - the themes we see in the back of the item. This t-shirt is as likely to allude to that - remember that Topshop is a lifestyle brand, lapped up by teens and 20-somethings - as it is to a football tragedy which, the general young public have a scintilla of consciousness of, compared to musicians and artists they love/admire.
Hopefully Topshop pull the top out of respect, but it looks to be a very unfortunate coincidence to me.