Panic, in the worst-case scenario, should be played on WT, but even then, its imbalance is difficult to overcome. In SoD, it should be banned altogether because it's easier to flip a coin and not waste time on the game.
My opinion is that Panic is a decent template for tournaments like 2min-200%-allrandom, where the variance in matchups is already so huge that the template doesn't really matter.
But in tournaments of the FB caliber, it doesn't look very good because it lacks depth in gameplay, and at the same time, it amplifies the already significant SoD variance.