I've decided upon a personal rule of thumb when it comes to the morphs and ethics debacle:
I ask myself, could a given morph survive competently if it was a wild specimen? Could it feed itself, maintain good health within reasonable parameters, and potentially mate without creating offspring destined to have a worse off start automatically due to known genetic anomalies within said morph? If no to any of these, that's where I question the ethics of propagating a given morph.
The only exception to these questions is "Would it get eaten due to different coloration ruining its camouflage?" since that doesn't affect how the animal would be able to live otherwise in terms of a self-sustaining existence and doesn't translate to a domestic setting like the other examples do for obvious reasons.