I own a Friesian Sporthorse colt, so you won't have the 'omg it's not PURE' bias from me!
With that being said, these crosses usually do okay because morgans are built a bit like friesians--thicker, upright neck carriage, etc. and they don't look like they were put together by four different children. :) However, they often don't amount to a lot because their aren't a lot of sporthorse morgans (not saying it's not possible... just not very likely.), and the ones that do exist... usually don't get bred to friesians. The mother is 50% of his genes... and often the weakest link.
He doesn't look terrible--he doesn't have ideal hind end angles, and his back is a little long, and his shoulder is a bit straight, but he can probably do a ton of low level eventing, dressage, etc., and with a great brain, too.