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I question that assertion.

While an X86 port would offer a wealth of new, low cost equipment, it also brings along something I personally would prefer to avoid - the X86 processor.

Has anyone looked at the current X86 instruction set recently? It is impossibly large, with additions specific to particular processors (not implemented across the entire X86 family).

While assembly language is still a possibility on a PPC, I would not want to attempt it on an X86.

And, if we are going to have to use higher level languages and tools to create code, who is going to create these tools for MorphOS (or are we going to have to develop programs under other OS')?

Beyond all that, AROS already exists for the X86 processor and OSX and Windows also run on the X86.

Does MorphOS stand a chance against competition that already has a gigantic base of available software?

I don't think so, and I lost this bet taking a different stance in the 90's. No matter how much better your OS is, the installed base of Windows users and the mass of available programs is always going to weight in Windows favor.