Morgana is perfectly fine for the overwhelming majority of the story. He's a character with compromised masculinity (super Japanese) trying to assert himself and find purpose in a world that doesn't need him. His bravado and bossiness may occasionally be grating, but overall he works much better than Teddie.

[Spoilers](Except for the part where he runs away. For the entire Beauty Thief portion Morgana is just a tremendous cunt. He takes everything I just described and turns it up to 11 by being a narcissistic, self-important, ignorant asshole. Futaba joins on and serves just one purpose that he can't, and Morgana fucking ragequits the group, shit talks everybody, goads Ryuji into being more of a dick than usual (I stand by Ryuji in this arc), and sends the whole of the Phantom Thieves into crisis only because he wasn't THE MOST IMPORTANT ONE THERE. Not everyone in the Phantom Thieves has a super important and distinct position. At that point only MC, Makoto, and Futaba did. But Morgana sees half the squad has a a little more authority so he fucking ruins everything and makes them worry about his life. He's not even the most useless one there! He's a fucking CAR. All Ann and Ryuji do are sit there slackjawed. Fuck Morgana for that whole section if the game. Other than that he's fine tho.)