

Why do you think a different word is needed?
Because the word has been largely washed of all negative connotations, at least across the minds of the majority of the populace in the U.S.
If you are trying to convey what the word settler means in a dictionary by using it in casual conversation, you are likely to find that it is not carrying the full weight of its intended meaning in the mind(s) of the listener(s).
This makes it a FUNCTIONALLY inadequate word despite being a technically correct one.
New kinds of water, you say? The marketing department is already on it and boy have I got news for you!