The panic was on a meta level never really about Satanism. It's just a reaction to something being seen as subverting the status quo. The current status quo is Diversity and Wokism. I wouldn't really call what is going on a Panic or even think its nerely on the same level as the Satanic Panic though. During the 80s roleplaying was a new thing and it refused to cave to outside demands even though there was a concerted effort against it.