I had in this video did explain "Moral Panic" and what it all means. I have been through the times when I did hear both of my parents having a moral panic when I started to engage with the Hip-Hop scene. I never listened to "Gangster Rap" like 50 Cent or NWA as my parents thought that I did, considering that they never heard me play any of that stuff since it's the source of negativity in Hip-Hop.
Apart from that, when you go through any scenes to develop and establish your identity, most would had experienced "Moral Panic", like the youths in the late 1960's who had became Hippies is one prime example.