I’m not sure why you decided to remove global elements. It’s a whole different feature with different purpose.
You use components when:
You want to create a repeatable widget for your site without actually programming this widget.
You use global elements when:
Some text on different parts of your site should be synced - you change it in one place, it changes in all places.
Components can be used as global elements, but in a wacky inconvenient way - you don’t create any properties and then you edit your “synced text” by editing component. But component has more complex editing interface. My content manager will be lost, I’m sure. With global elements he could edit some TOS texts on our site no problem, but now - I’m not sure.