Howard makes a fair point about us seeking to justify our decision to own and drive an anachronistic vehicle. But I think there's more to it. Modern life is de-skilling us in many ways and so by driving a vehicle that requires some skill to make it perform well we are bucking that trend. Then we take things further by driving in conditions that require endurance and exposure to the physical world of wind, sun, rain, heat and cold. In doing this we are quite rationally trying to measure ourselves against the men and women we admire; our role models from the past 1.25 centuries of motoring. We want to experience what they did, even though radar traps and multi-lane highways render that a near impossibility. At least we can escape air-conditioning, ABS and lane-keeping systems. I think we all get it, Howard too, because I'll bet that sometimes he's like me and just wants to whoop with the joy of clipping that apex and snicking second gear on the double clutch down shift.
I have an objection at one point of your insightful text. I avoid such modern multi-lane highways. At least in my surroundings there are still the roads, which let enjoy all the beauty with a Morgan.
To look at it philosophically, we (or many of us) also use the Morgan as a vehicle in a figurative sense. Not only as a machine to move, but above all as a world of experience that expands our senses, in contrast to the uniformity of a modern car that stands for objectification and against intense experience and is on the same line with a lot of what determines life now.