I have rebuilt 4 Morgans, the last from chassis up. I have also built three kit cars.
The areas that need the coachbuilt expertise are the bonnet, the scuttle. wings and doors. As this comes after the chassis, engine, transmission etc. it would not make sense new.
The actual cost saving would not be that great.
Getting the original body panels to line up on a rebuild can be challenging.
I like the idea but 'handbuilt by Morgan' sounds better than 'cobbled together by Titus.'