I can see how it’s confusing, but it’s a fairly well understood term by people within geopolitical circles. Unless you believe latitude is the most important explanatory variable in geopolitics, I don’t think the edge cases are such a big deal as to prevent us from using global north/south as a shorthand.
I can't believe anyone would take this stuff seriously. But I'm sure it's popular with the officious busybodies in some international NGOs.