Sorry, but this is not comparable to anything seen before. I can't remember 6 year olds taking hormones and 16 year olds having their breasts removed. There was no 4000% increase in teenagers claiming to be gay. There were no attempts to change core language concepts and there were no gays attacking and discriminating against other gays. I also can't remember scientists and medical professionals being gaslighted and having their careers destroyed for having valid concerns, companies having to conform to fluidly changing and unregulated redefinitions of language or facing massive targeted and politically motivated attacks, whatever, you name it..
I realize this is at most 5-10% of some age groups, but they are louder than anyone else and acting in a radical fashion. On the other hand I'm not sure where you see moral panic here, I'm really just expressing knowledge and my opinion. Not very emotionally so. Even if I could be slightly more emotional about it, I have literally been attacked for stating that I am bisexual and don't have neopronouns. That hasn't happened in a long time. Not to mention the damage that is being done right now to decades of fighting for acceptance and the past "gay panics". Kind of ironic to mention that in the context of new active discrimination by their own and then calling it moral panic.
Past gay panics furthered the cause. This behavior will set it back by 20 years. Even completely indifferent or transgender-friendly people are starting to turn on them now.