No harm done.

Looking into it further, the answer is basically
yes, as long as the game is still available for redemption. In other words, some games will still be available after they're removed from the store, but some are removed from Steam completely. Since you can reinstall NBA 2K14 through Steam (I recently did so on my laptop), I'm guessing if you get a valid code, it'll be fine. If you get a dud code, then there's not much you can do through Steam Support or 2K Support, since the game is obviously no longer supported or digitally available for sale. A disc version would be safer in that regard, but again, you should be fine as long as you get a valid key.
One thing you won't get with either version of the game is the official roster and art updates. However, we've got you covered there:
Official NBA 2K14 Roster & Online Data Update