I use this function in my plugin to make sure that UseCSGv2 is set to true, and there are plenty of other useful things you can use it for in plugins. Roblox is still actively using this function to access the GetFFlag function in their CoreScript code, so why is it deprecated?
I agree it should not be deprecated, but it doesn’t appear to be deprecated though.
settings() is not striked out on the wiki:
http://wiki.roblox.com/index.php?title=Global_namespace/Roblox_namespace#settings
GlobalSettings object is not marked as deprecated:
http://wiki.roblox.com/index.php?title=API:Class/GlobalSettings
Where are you seeing it’s deprecated?
It shows as deprecated under script editor.
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Off topic but I like the Halloween themed script editor colors. 
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This shouldn’t be deprecated. Seems to be an error in ReflectionMetadata. I don’t know who to blame but let’s blame @Fractality for this one.
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This is still happening, just FYI.
I currently have to do this to make it stop showing the warning:
local GlobalSettings = getfenv().settings()
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