The problem for Morgan is that his best year is already 4 years into the past now - and with the volume of work, it is pretty obvious our WR core had way more to do with that than Morgan. I don't think Morgan is renowned for his arm strength and he does not have giant size or great speed. Lastly, the dude is pushing 30 so it is hard to bank on a high upside as he matures.
That said, he is a mature and smart so he could probably effectively run the practice team with changing looks each week - that, and he is unlikely to cause embarrassment to the team. I think the 'smart' part, so he can quickly adopt his style to mimic the upcoming opponent is highly underrated. You take a guy that is as dumb as a box of rocks with some potential upside and it probably is not really worth your time and effort if he is 3rd string still after a year or 2. He can't give you the effective practice team looks and will probably do something off the field eventually to damage the team image.
I never though Morgan would cash an NFL paycheck so I am very happy for him if we can hang in the league.