As pointed out by @ashley in a conversation, TextExtracts is what Snippet does, except with more functions and more flexible. Deprecating this extension should be a slow process since outside sites use the Snippet API, such as Brickset (I think there's more, but I can't think of any). CC'ing @georgebarnick: Do you know what other sites use Snippet?
Besides LEGO sites, it looks like it's being used also on a site called "Wikidébats", according to Wikiapiary. It's pretty active too, looking at http://wikidebats.org/wiki/Sp%C3%A9cial:Modifications_r%C3%A9centes
Doing this to this extension will also require changing: