Morrison has the look, the "it" factor, the charisma, the unique in ring style that draws you in. He's not as polished as Michael's, or as charismatic, but as you said Michael's is the greatest of all time, give Morrison a few more years and he'll be the best in the biz, he should be pushed alot more than he is now as he has the potential to be the next face of the company after the Cena era starts winding down, and based on fan interest it seems that people want it to start winding down now. Their options are put the company on Orton's back, but he would need a change in gimmick, or they need to start building someone else up to superstar status, and for that the person needs a really good look. Morrison is the best candidate, IMO. The second best candidate, is to push Ted DiBiase to this level.
Over the next 2 years WWE is set to lose Edge, Undertaker and Triple H as full time wrestlers. Edge & HHH can make part time appearances, but Taker will be done once he is off TV, most likely following next years Wrestlemania (20-0). They lost Batista last year, Jericho is moving on to greener pastures and Kane and Big Show are both north of 40, Mysterio is riddled with injuries.
Orton, Punk & Cena are the only "Superstars" they have established that should be around for atleast 5 more years, that needs to change if the E wants to stay successful for the longterm. Killing Sheamus, who was nearing that level, for no reason is part of the reason WWE is idiotic. Alberto Del Joke will never reach the superstar level, he lacks the it factor. The Miz was wrestlings biggest joke for 2 years, he teamed with Morrison and improved a bunch but he should not be near the main event picture.