I can see why people may brand it as 'just another rompler with better filters'. The presets are very much of their time and some aren't much to write home about.
I can also see why people might associate it with the Wavestation, but prefer a Wavey. The WS lets you place your hands on keys and hear things evolve - with the Morpheus, I can hear the potential for that, but the slightly pedestrian presets don't go there. A shame really.
It's one of those boxes where you can hear the potential for something interesting, but it kind of doesn't deliver out of the box. But I'm not regretting buying it. So it's a case of RTFM and then diving in a bit.
Veni, Vidi, Aesculi
(I came, I saw, I conkered)