I suspect the reason for saying "not for direct drive/FET driver" is that the forward voltage of the LED is lower than those of years past.
Direct drive (DD) can NOT be constant current, and CAN work fine, if you have the right components. Direct drive means connecting the battery directly to the LED with no driver, no resistor, nothing but (maybe) a switch. The only thing that limits current is the resistance of the battery, LED, and connections (which may include the body of the light). From the instant you turn it on, the battery starts discharging, the LED starts heating up, and other things can change too. This means that the current will always be changing (usually dropping) while the light is on.
Years ago the forward voltage of the LEDs we had were often 3.6V nominal, 3.9 at high but manageable current. The battery voltage might be 4.2V no load, but under heavy load would drop instantly to 4.1 or less, and quite soon would be 3.9 or less. With such low voltage differential, even with the low resistance of the circuit, the current is still manageable.
Fast forward to today and the LED you are looking at has 2.75-3.0V nominal forward voltage. Add in a high-current 18650 and a DD circuit with today's components could easily have several times the current of older DD setups. This is no longer manageable, and will destroy the LED in quite short order.
A FET driver is the same as DD but the switch has been replaced by a low-resistance FET. The FET can be turned on and off quite rapidly, allowing effective dimming and other modes. However, the LED is still seeing pulses of uncontrolled current, limited by the same things as in DD, plus the small resistance of the FET.