It's only until he rolls back the chain, then it'll be us bitcoin holders' turn to
start panicking.

No. As soon as they do something like that, it proves that the statement of this coin being beyond the influence of 'governments' and whatnot was a lie.
looks like DAO is going to simply open for withdrawals thats it. Or is that just fud?
If by
simply you mean doing a change that is the equivalent to
coin control (which is frowned upon) in a decentralized system (which isn't decentralized anymore), then yes.
Remember when bitcoin hard forked multiple times because someone created 9 billion bitcoins? Oh you don't? That's because you're a pesky noob