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I don't think these two lures are all that similar.
I'll let you try them for a comparison. I suggest you compare the 8 ounce model against the 1/8 ounce model. I'm sure the results will be identical.
Any chance of a 1/4 ounce size? Didn't see any ice in your pictures with the Panic. And the propeller spins, while the blades on the Panic flutter without actually spinning. I'll bet they both catch fish, if they are used correctly though.
Nice hijack boys.
Not sure if that's sarcasm or a complement ~ A tip o the hat to ya either way.