Those early MGs weren't much more than tarted-up Morris Oxfords, and some do still exist. I've never felt they had great merit.
The M-type Midget, on the other hand, though starting life as a lowered but not much altered Morris Minor, soon departed further from the Morris design and became one of the all-time great MGs that put the company on the road to success.
I'm not being snitty, but "MGM" isn't correct, by the way. MGs were termed Type A, Type C (or A-type, C-type) until after WW2, when having got to Z-type with the Magnette saloon, they decided to start again but with "MG" as a prefix. So following the Z-type we have the MG MGA, MG MGB, etc.