Of course it's fair to compare them with Ferrari as they are the other end of the cottage industry spectrum. They suffer paint quality and corrosion issues and yet they are made in a hugely expensive cutting-edge factory backed by Fiat and significant private investment. They also catch fire, get delivered with the geometry completely off, don't make quoted power, etc. People spend anywhere up to 300k+ and the first thing they have to do is take it to an indie to have it detailed properly and have it set up correctly. Much has been made of their 7 year servicing but really this is just a means to an end to keep things in-house so that stealth upgrades and rectfications can be made to prevent warranty arguments down the road once cars have changed owners and gone elsewhere.
Morgans do work, the powertrains and chassis are proven and I'm sure someone will correct me if wrong but I'm not aware of them being inherently unreliable. I have no idea what the comparison with Bitters is because they were just reclothed Opels, which is pret far away from what Morgans are.