That would be wack as shyt in live action IMO.
That version was already in Spiderverse, I say save the ultimate villans for Miles. We already had a big crappy reptile looking CGI monster in the Lizard and he was one of the most distracting parts of a movie that would have been a clusterfukk without him.
Truth be told...Morbius could have made a great villan for the trilogy if Sony hadn't fukked him up. He hadn't been on screen yet, could have played as connective tissue between Spider-man and Blade and continued the theme of Peter doing all he can to cure the bad guy.
MCU Norman doesn't even have to become the goblin honestly. For one, Peter knows off the rip anybody he meets in his world named Norman Osbourn is somebody to keep an eye on. A predictable re-tread of what happened in the Rami films would be cheap. The best way to go about bringing Norman in is to have Peter in this moral dilema of making a judgement about someone who could potentially be a murderous villan only for him to end up being a well loved businessman in the tech industry and politics.
Giving him a serum and letting him run around as a big dragon looking thing for an hour is less interesting and has wayyyyyy less reach than a cool, compotent Norman Osborn doing what Mysterio was trying to do in FFH...step into Iron Mans shoes by perverting Stark tech and help form the Thunderbolts/Dark Avengers. People need to think he's a hero, the only person that knows what possibly lurks behind his public image is Peter. Once he fails and his motives get exposed, when the suit and the money aren't enough and the REAL Avengers re-assemble, he'll start looking for a serum to gain an edge.