Sure it can't be compared to popular systems such as Linux, OSX or Windows (for exemple) in terms of functionalities or applications and it's not targeted to non amiga user. It will remain an hobby OS and things are progressing really slowly... but it can do regular tasks you're excepting from a home computer.
First MorphOS has been designed for Amiga users, if you don't know how to use the Amiga OS, you will get lost. Like discovering Windows if you are a Linux user.
But if somebody (ok, a computer hobbyist) has a MorphOS supported powerpc mac, is tired from slowness of latest OSX versions (or doesn't want to try a power pc linux distro which will not be responsive too unless using XFCE/LXDE), and are not afraid to learn a new OS, he might be interested in paying those 111,11 € to get a fast dedicated PowerPC only OS which plays HD videos, listen music, surf the web, mail, ssh etc. and have fun. At least he got the chance to fully try it and even install it before to take his decision.
If you are not an Amiga user or if you are not curious and interested to give a second life to an old apple hardware and discover an alternative system, then MorphOS is not the way to go.