I believe it is just not about panic... It is about the attitude, the attitude to make money initially and get out of the market/ICO. Most of the people who do this are not sure if the ICO will work or not. Quite a few of them are not even bothered if the ICO works or not. It is the attitude of just to make money.
Some of us are still not matured enough deal with the manipulations and FUD. However I believe, I m generalizing things here.
I think I can relate to that, so many people are only interested what happens above the surface without real interest going deeper, I bet most bounty supporters did not invest their time to read a whitepaper but rather look at the size of the telegram group and if there is hype around a project, this needs to change