I decided to make a run at getting the Benevolent Leader trophy. Over the course of three hours I set up a large settlement, made sure it had adequate food and water, lots of clinics and and traders, lots of decorations, an impenetrable defense. Then I settled in and started sleeping 24 hours at a time.
I watched the happiness rise to 98 and figured "it won't be long now!". Then slept again and woke up to find the happiness at.... 73. It dropped 25
Screw this. I have more than 100k caps and 20k pure water stockpiled. The settlers can all freeze, starve and die for all I care. I don't need them.