Now, before you all downvote me, I think the skin is pretty in its own right, it's a fine skin, but it has nothing in common with the old Exiled Morgana.
I like very feminine skins. The reason I bought Exiled Morgana was because of the gold embellishment, the long crimson dress etc. She was extremely elegant compared to the base-morgana skin. I can't really say that's the case anymore, she's a wild viking, and sure some people might like that, but I know I'll never play with that skin again and I would rather have the opportunity to change it to another skin that I'll actually use. The only thing that's the same from the old to the new skin is some of the colours, and that's it.
Now If I could get a refund I could spend the remaining RP (have some from before) to get a skin like Coven Lissandra, a bit more expensive sure, but I know I'll actually play with it, I won't ever play with Exiled Morgana again, and that's purely because it's so different that I see no resemblance with the old skin.
Again, I'm not saying the skin is bad, if you like the viking-theme they're going for, go for it, but it's so far away from the original skin. People also call it the "Norse-Morgana" because it's more descriptive of how she looks, I just think that goes to show how far she've changed from the original skin. (sure it might fit into lore) But it's like if they'd done this with any other skin I think a lot of people would've gotten a lot more up in arms.
Imagine Blackthorn Morgana being made into a dark dress with dark wings (no leaves or plants) and they say "Oh yea, we changed the theme to be a coven-skin instead, because the name fits. I mean sure they could've kept all the colours but the theme is changed so much that the people who originally purchased that skin can't see the original skin in it anymore.
Same could be done with any of the other skins if you strip them of the original theme they had and just keep the colours, of course some people are gonna like the new direction, but others will miss the original theme. I think when riot makes changes that are so "big" they should at least offer a refund for people who won't be playing that skin again because of the huge change in theme.