It would be interesting if this happened. I think the reason it would happen is if Morrissey happened to be writing songs that he imagined being performed with acoustic instruments. That's to contrast with some people who will choose a certain style and perform an album or do performances in that style. Morrissey has done rockabilly and glam but I don't think he woke up one day and decided he would do a glam record. It was probably what those songs called for and maybe the type of music they were being influenced by at the time. I can't imagine Morrissey doing one of those "songs from the great American songbook" records like Rod Stewart. Choosing to work with Mick Ronson and Tony Visconti might have been sort of "conceptual" but I'm talking about the difference between a performer/entertainer type like Wayne Newton and a singer songwriter like David Bowie or Bob Dylan or even a conceptual artist type like Brian Eno. Of course Bowie and Dylan are pretty conceptual too, so the boundaries are never clear.
Anyway, an acoustic album would be great if that's what he was listening to and influenced by at the time, and if that's how he heard the songs. A small club tour with just Boz an Moz doing acoustic music would be great. Morrissey probably likes all those old murder ballads, anyway, and I wouldn't mind hearing a traditional folk song album even.
Of course, any album would be great!