It was shut down. They just call it a "settlement" to avoid it looking suspicious and for the FTC to save face.
So what was this "settlement"? Google promised to be nicer and said mea culpa a bunch of times. They did not pay a fine, did not agree to any hard regulations that would carry a penalty if violated, they did not pay any compensation to the entities they kinda admitted they wronged.
It was the political appointees (from both parties) who shut their recommendation that the FTC begin an antitrust action down.