Earlier quoted context omitted.
A distinction without a difference, because "panics" and "exceptions" are literally the same code under the hood of the compiler and standard library. Fragile run-time behavior and unmaintainable code is because programming is hard and cruft accumulates in the face of difficult requirements. Renaming a thing that traumatized you in the past won't make the cause of the trauma go away.
Although the code generated might be similar, it's not a "distinction without a difference" because the language doesn't provide the same tools for interacting with panics as say C++ does with exceptions. There is no "try catch" for panics, you either catch them at the thread boundary or catch them with catch_unwind. Everything in the std lib is built with Result for errors that can be handled, not panic. Programming…
So exactly like C++ exceptions then?