Hmmm... First of all, the way everyone is looking at this, there is a lot of potential for abuse. It's possible that every morph creature starts out as a 2/2. That would seem like a minor ability rather than a major ability for a set simply because the number of options is suddenly limited to things that could be 2/2. As someone mentioned, I suppose the morph cost for some creatures could actually be higher than the casting cost and the creature quite large. I would imagine the cost would need to be high because otherwise, why would anyone not use the morph.
Now, Apollo, the card specifically says it is a 2/2. It isn't a Goblin or whatever until the Morph cost is paid, so there are no combat tricks without mana. No having to turn it over to see what it really is because until it is turned over, it really is a 2/2 vanilla creature.
The potential for abuse if everything is a 2/2 is to make sure that everyone is actually playing morph creatures by the time the game is over. Hey, I have extra land in my hand, what will I do with it? I'll put it in play as a 2/2 creature and hope that no one ever sees that it's really just a land. Granted, this is pretty blatant if found, but I'm sure I can come up with some excuse...Um, grabbed the wrong card, sorry...
If they are not all 2/2 creatures, the potential for abuse is obviously larger.
Interestingly, it appears that the face-down version is colorless and has absolutely no creature type, but isn't an artifact, either. That alone might make it worth more than the face-up version against some decks.
Still, we haven't seen the FAQ yet, so we are jumping to a lot of conclusions, also. If there are only 2/2's for 3, then I think that the mechanic may act the way we've been suspecting. If there are other types, then I suspect that you need to reveal the card to your opponent before putting it in play upside down.