Obviously, the last posts miss my major points.

Were MorphOS to be rewritten in X86 machine code, program code compiled for MorphOS would have to be specific to MorphOS. Who's going to write to tools we're going to need to create this code. You're not going to be able to create X86 code that addresses MorphOs system calls by developing on another system.
We're going to need all the development tools other X86 OS' have and that means porting such tools to X86 Morph.
Now as to assembly language and the size of the instruction set. Currently the relatively small instruction set of the PPC processor makes the direct creation of machine code relatively easy.
The X86 processor family has a much larger instruction set (partially due to its CISC nature), but further complicated by decades of additions to the instruction set.
While it is still possible to directly create efficient machine code on a PPC, the almost 1000 instructions in the X86 instruction set make it virtually impossible to create the tight code generated by an assembler. Virtually all X86 software has to be created by higher level tools. Code produced is larger and inefficient.
Currently there are decent PPC processors that would allow us to continue to develop the compact, tight, efficient and fast code that MorphOS and AmigaOs are known for.
Moving to an X86 architecture will produce a larger and less efficient system.

And, to close, I can't see MorphOS (after it loses its advantage of compact quick execution) being able to compete against the already well established X86 OS' already on the market.

In a word, you're wrong, adopting an X86 platform would be a mistake