tried with ChronosManager
[ ChronosManager open ] bench
5.6 per second
it opened around 30 instances and Morphic was crawling.
I profiled it and it reports that it spends a total 170ms which is consistent with bench. Around 50ms is spent only for loading the image of the secondary panel and from what I have seen loading the images and the font accounts around 90% of the time spent and then rest 10% is actually morphic + logic.
So from the looks of it , it looks like Morphic does not perform well with loaded images and external files.