If so, is the process really designed to teach folks morals or ethics....
I don't see the process of Aikido study as a delivery vehicle for any moral or ethical lessons. Rather the physical practice of Aikido provides me with a way of looking inward to discover who I am and how I interact with the world around me. This process of discovery has enabled me to witness the emergence and maturation of a moral and ethical base of personal behavior that is substantially different from when I started my study.
My study of Aikido has been decidely inwardly directed, resulting in outward behavior that has been moving toward a more ethical and moral form than would othwerwise have been had I never taken up Aikido.