I would prefer to remove boss morphs but when I started that process I got complaints from players who felt Morph wasn't much use as a result and/or they were attempting to morph bosses and ended up with no reward. What I could do is set Morph to deal standard damage (or something close to it) to take some of that annoyance out; and that would also double up as making Command Counter a bit more useful when it's obtained early.
Huh, I wouldn't guess people actually WANT to morph bosses. But generally, hammering in the idea of "don't morph bosses" seems to be a good direction.
Hm, I'll give you my take on steal/morph to make both satisfying.
Steal:
On normal enemies, it should have comparably little benefit and few "special" items. That said, it should also be rather easy to steal from them.
On bosses, I'd divide them into two categories:
On some, you can steal a "special"l item(Weapon, Accessoire). This should be is rather hard, but not frustratingly so.
On others, you can either steal nothing or steal a usable item(Elixier, Fire Fang, Potions - stuff like that). Preferably, the items should be immediately useful and the steal should be rather easy.
Morph:
Simply remove morphs from all bosses and switch the items to their drop.
On normal enemies, however... Morph should grant comparatively big rewards - in some cases(For example, rare~ish enemies like Ark Dragon or Eligor), you should be able to morph "special" rewards from them: A strong battle item, equipment, materia... Special stuff. This could also apply to enemies in out-of-the-way locations.
On more common enemies, morph should grant great monetary value and/or nice-to-have usable items. Tents, phoenix downs, ethers... Stuff like that.
This "system" would retain morphs usefulness and cement it as a "special" farming method for items/money, while taking out the gameplay-downs of morphing bosses...
And steal would be a generally useful, yet not overly strong, thing for normal enemies(Basically a "drop-chance" increase in many cases), while having a special spot against bosses - either granting you strong consumables or strong items, the difference of each signified by how hard the steal is(or if there is one).