I tend to agree.

I didn't rush off to panic buy, but when I first heard about it happening, I did go to do a normal grocery run in case things later ran out. There was nothing on my list. Also, there was almost nothing on the shelves. It was like the supermarket had been looted. Well, of everything edible or useful anyway. Probably high-value, non-essentials were still there, unlike in real looting.

I walked and walked the aisles, and the only thing I could find that we might eat were black olives. I disliked black olives (as apparently did everyone else), but I bought (and later ate) them anyway. That wasn't the only thing edible in the supermarket - it was a while ago, so I forget what was still there. Perhaps condiments, and obscure baking ingredients.

I held out from panic buying right through, but once the shelves were restocked I started buying a couple extra of everything each time, as long as there were lots on the shelf. I gradually filled one cupboard shelf with 6-7 of every canned and jarred food we eat. Later on, there were a few more instances of people panic buying at the slightest provocation (1), and I now assume people will do it if allowed.

1) https://www.rnz.co.nz/news/national/473591/you-don-t-need-to...