More specifically, the fact that it has a vertical blast radius equivalent to an atomic bomb's mushroom cloud is what makes it OP. There's no reason why it should kill me when I'm 30 feet in the air, Bungie. That's just overkill.
Edit: Let me make it clear for all of you. Fist of Panic is a ground pound. The important word there is "ground". Fist of Panic, a "ground" pound, can take out people 30 feet in the air. That's my problem with it.
Now watch as the people who abuse it come to defend it.
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Want to know how to play striker Titan in crucible? Step 1. You have just bumped into an enemy player and you're shooting him frantically but nothing seems to work? PANIC SUPER and he is down! Step 2. Is your super recharging? No worries! Just hide in a corner and shotgun anyone in the face if they walk past you! Step 3. Repeat step 2 until super charged, then use step 1! Repeat until you win!