As an owner of both W/ and Morphagene, I would say that there is no significant overlap of the modules in the way that I approach them. Sure, they both function as SOS, tape-emulating modules, but when confronted with the same input, I want them to do different things. Morphagene is more immediate in its response to a desire for granularization and smearing, while W/ would need to be coaxed to accomplish the same effect.
Where W/ is shining for me at the moment, it is in how the record/playback environment is manipulated in NAV and Play modes, i.e. using LFOs and CV offsets to change Overwrite-to-Overdub while recording. This manipulation can lead into absolutely gorgeous glitches and manic playhead effects into the splices. I spent an hour yesterday taking the same stupid piano sequence from the simple exploration above, recording, cueing, looping, and playing with gate patterns and CV into THIS and THAT respectively. I wish I had been recording its evolution as it glitched and pitch shifted itself into something entrancing while keeping the dumb sequence at its heart. Note to self: always record the output when playing W/.