The V3 male morphs were a good idea since it's totally inefficient to have 2 (two) figures for such minor changes.

I wish there would be an V4, A4, M4 all in one. This combination would require either many polygons or skill to get it done, but after all it's better than the many base figures that are required now.
However, should DAZ be able to create a realistic figure which is V5 and includes gender change, I would more likely wait for this than getting any V4 male morphs. Up to this point there could even be a low poly version of this figure. Including more extreme morphs would prolly lead to more polys as I've doubts about the existence of the needed skills to achieve this with less than 100k polycount.
If they would offer a seperate high poly version that is designed specially to meet simulation needs, I would be even happier.

Back to present: What else features should M4 include than what all the predecessors got?
Considering the hard- and software environment and that the figure should work well for many people, there is not much left other than good posing behaviour.

Since V3 had huge flaws just like all other figures, freebies or not, and DAZ didn't care to fix or was plain and simple unable to do so, it is very unlikely that a M4 will be any better.
If one creates a figure that is not for sale which has flaws then it's nothing special if these flaws never get fixed. Maybe it was done for learning purpose or whatever.
If a figure is for sale however, it should offer some very basic functionality. That is perfect posing behaviour and the option of a low resource load variant for animations or bigger scenes.Some other basic things are morphing flexibility and perfect realism if the user wants it.
That they then take money for such a product is fine. If the special version is 500+ bucks it's fine too because as it is now one would have to spend plenty hours to integrate these features or assign the task to companies to do it.
Basically there is no need for further commercial figures if the creators don't fix the flaws that they were made awre of during the past couple years. And a fix is not something like V4 to V4.1 and with M4 the same procedure again only because someone slept while QA.
The need for free figures is given but so is the need for options and items for these figures.