It's up to you to choose the right failure strategy and monitor your system if you don't want to panic, and take appropriate measures and not just ignore the warning.
It's not Linus who sounds ignorant here, it's the people applying user-space "best practices" to the kernel. If the kernel panics, the system is dead and you've lost the opportunity to diagnose the problem, which may be non-deterministic and hard to trigger on purpose.
Small rant. ARM cortex processors overwrites the stack pointer on reset. That's very very very dumb because after the watchdog trips you have no idea what the code was doing. Which means you can't report what the code was doing when that happened.