Not sure if you're joking?
Either way, I think he's had more than enough opportunities, and we now have a much better option in Pearce as full time 1B, with Morales playing a few games when necessary.
We should attempt to trade him to anyone who will pay even part of his salary. If no one wants him at all we should release him and take the hit in sunk cost.
$4m a year shouldn't prevent us from acquiring anyone. It wasn't that long ago that we were paying Ricky Romero $7.5m to not pitch for us. It's obviously not ideal, but he's shown he's not good enough to play a major role, and is a waste of a bench position. I'd rather have someone who can pinch hit, or someone with more positional flexibility than just 1B.