Ok, so, when adding a new antagonist to the mythos of a long-running character like Spider-Man, a lot of writers seem to think the only way to make their contribution count is to try and top the antagonists that came before. They don't just want to make another Spider-Man villain, but rather The Best Spider-Man Villain, the Archest of Arch-Foes, the one so bad that all the previous arch-enemies look like a pile of shit by comparison. They will craft a character who isn't so much a person as a collection of traits designed to antagonize the protagonist as much as possible - someone who has no facet of their existence that isn't entirely dependent on that comparison with the protagonist.
The thing is, a character that's existed as long as Spider-Man will have arch-enemies already, and they're probably much better characters. The Green Goblin and Doctor Octopus, Spider-Man's time-tested arch-enemies, both have a lot to their characterization that can be divorced from Spider-Man entirely and still make them recognizable. They don't exist solely for Spider-Man's narrative, which in turn allows them to bring more depth to that narrative when they're included in it. Both villains have their own shit going on, their own lives, their own motivations and desires outside of Spider-Man, which allows them to make all sorts of interesting plots when they do come into conflict with him.
But Morlun, the Interdimensional Vampire Who Only Eats People With Spider-Powers, doesn't have that. Everything about him is crafted solely to be a dick to Spider-Man. Doctor Octopus has big evil schemes - harnessing the power of the sun, recruiting other villains to become a supervillain crimelord, etc. Green Goblin kills his business rivals, abuses his son, and even tries to corrupt Spider-Man into being his sidekick in crime. But Morlun? His evil schemes are, uh, killing and eating alternate versions of Spider-Man, and then trying to kill and eat the version of Spider-Man we care about. That's it. That's all he does, because it's all he can do, because there's nothing about him that isn't solely devoted to being Spider-Man's Biggest Bad Guy.
Decades from now, people will still have new ideas for stories where Spider-Man fights the Green Goblin or Doctor Octopus, because those two are actual characters. And no one will remember Morlun unless they've memorized whatever passes for The Big Book of Obscure Spider-Man trivia in the future, because Morlun was a badly written plot device masquerading as an antagonist.
I should note that Venom, the evil alien parasite that was Spider-Man's costume for a hot minute and now hates him because Spider-Man rejected his love confession and bonded to another reporter who is basically Peter Parker But Douchier, initially had the exact same problem as Morlun, i.e. being so obviously designed to be an Anti-Spider-Man that it was kind of painful. But the kernel of a unique idea buried in that concept - i.e. "a douchebag and his evil alien parasite boyfriend" - proved interesting enough to make Venom his own character, and that's honestly pretty good. And hell, even Venom's arch-enemy, Carnage, who is basically the Morlun to Venom's Spider-Man, ended up growing into his own character too, in a Freddy Krueger sort of way. I don't think Morlun's going to be salvaged the way those two were, though.
The correct way to add an iconic new villain to a long-running superhero story is the Harley Quinn method, btw. Harley Quinn worked not because she was "The Baddest Bad Guy Batman has ever and will ever face," but because she had a unique personality that no other rogue in Batman's wide pantheon of villains sported, and as such added a new dynamic to Batman's adventures whenever she popped up. This is reason 143 why Harley Quinn is one of the best characters of all time.
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