The complexity of the Morgan design, and the size of the die, made them more than normally prone to cracked dies. It would be a relatively easy thing to complete a date/mint set of Morgans with cracked dies. The popularity of
VAM's is partly due to the general popularity of the series, and partly due to the enormous work of Leroy Van Allen and George Mallis. Their
Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars kickstarted the whole thing, and Leroy Van Allen is still attributing new
VAM's for the numismatic world today. Another consideration is that, with millions of Morgans still extant, new
VAM's are being discovered every day, making for a lottery-type experience among collectors. That is certainly part of the reason for my enthusiasm.
As Bryan mentioned, die cracks are so commonplace among Morgans that the presence of them doesn't necessarily qualify the coin as a specific
VAM, excepting in cases where the crack has widened to a break. Your theory of certain weak areas on the die is correct; every year was prone to cracking around the tops of the letters, and broken pieces within the motto are also too common generally to warrant their own
VAM designation.