I think the discussions about the 'morality' in BNW are quite interesting as a lot of people tend to put their own values on it.
Huxley was an atheist, in fact his grandfather invented the term agnostic... personally, what I took from the book was that you don't need 'religion' to know what is right and wrong - Huxley was making moral judgments on the world that was being presented, conditioning humans to act only on primal needs and to divide them into castes is generally a bad thing... but for no other reason than it just was...
It was more of a condemnation of consumerism than anything else... people are designed to consume, in a way that is pre-determined, and then turned into a consumable.
Essentially yes; it also pre-supposed the effects of statist quasi-religious ideology employed in Fascism or Stalinism (where religion was bastardised), and other political personality cults ("By Ford!)
Despite his agnosticism, Huxley was drug addled, obessed with mysticism and converted to Vedanta. That helps frame the context of the book.