And don't forget reliability, warranty issues and a local dealership, I can't see a bmw or Toyota customer buying into Morgan, Morgan is a lifestyle and a niche car.
I've had 2 Morgans, no reliability issues.
As for the "Germans" I'm less convinced. Weeks old, the M140i needed a new rear can, the powered valve had failed. The C43 has had both the rear screen replaced ( failure of 3 elements) and the drivers seat squab replaced, (leather cracking after 2 years).
The A35 had, at 2 weeks old, a complete MBUX software re-boot after crashing.
Yes, Morgans are a niche car, with limited dealer support, but for some BMW and Toyota supporters the chance to have something mechanically similar, but visually different and the ability to customise extensively, will be attractive.
If just 1% of those considering a Z4 or Supra make the jump then MMC will be VERY happy.