John MacFarlane (Pandoc’s author) is heavily committed to the Common Mark standardization effort of Markdown (in fact he’s the principal designer of the Common Mark spec).
Both Common Mark and Pandoc serve different purposes: the first is an initiative to counter fragmentation/balkanization of the Markdown ecosystem and in being so has to reckon with backward compatibility, consensus and adoption. The latter is a document conversion library, which, by design, needs to reckon with interchangeability between formats and may hence be hampered by the lowest common denominator as regards feature support. Internally, Pandoc keeps an Abstract Syntax Tree (accessible in json format), and defaults on its own flavour of Pandoc Markdown (featuring a Markdown superset of content element types).
Both the Common Mark community and John MacFarlane have made it clear their first and foremost focus is on standardization, not so much on extending the feature set. Yet, scholars and technical writers are in dire need for something more heavy-weight than the rather small set of features offered by Common Mark implementations or Pandoc Markdown. Hence the Scholarly Markdown initiative and the scholdoc reference implementation (Pandoc fork).
More on how Scholarly Markdown came about, can be read on the blog of one of it’s pacemakers, Martin Fenner; e.g. http://blog.martinfenner.org/2013/11/17/the-grammar-of-schol..., http://blogs.plos.org/mfenner/2012/12/18/additional-markdown...