I'm just wondering why wasn't Morrowind ever Released for the PS2 back in 2002. Its always something that I've been wondering about and I haven't heard any reasons online or anywhere else as to why that was the case?

It could be that it was pc and Xbox exclusives or the ps2 couldn't run it well enough to port Morrowind to it.

First, licensing the development tools for a console game is a significant chunk of money up front, which is difficult to justify if you're not sure how well it will sell on that platform. One needs to remember that Bethesda hadn't done console ports before, so they were already taking some financial risk by porting to the xbox.

Second, once the game proved to be a success and the xbox port made a lot of money, they were probably too busy developing new games and expansions to go back and try to adapt the game to another platform after the fact. It's a lot easier to write something with the limitations and eccentricities of the platform in mind than to try to modifiy it to work on it afterwards.