Panics _can_ sometimes conceptually share the same implementation as exceptions, but given that their usage is not the same, and the fact that the ecosystem doesn't use panics as exceptions, it's a bit of stretch saying they're "functionally" the same.
A bit like saying trains and chairs are functionally the same since they both can have wheels; when there's the crucial difference that chairs don't go choo-choo.
A bit like saying trains and chairs are functionally the same since they both can have wheels; when there's the crucial difference that chairs don't go choo-choo.