Well, I can only tell you a true story of a real dive. I was diving at Three Tree with two friends. One was a guy I'd been diving with for several months; he had about 40 dives, maybe 50 at the time. He'd taken some training beyond OW (I think he did NW Grateful Diver's AOW class, but it was a long time ago, and I'm not sure). At any rate, he had been diving regularly in the Sound and had always been a very solid buddy.
The three of us were down about 70 feet when he began to seem a little erratic -- he was fiddling with his mask, and not kicking steadily. We gave him the "okay" signal, and he returned it. About 60 seconds later, he turned 90 degrees and took off at high speed. The other two of us tried to chase him, but neither of us could come anywhere near keeping up -- this was a big, strong man, swimming as hard as he could.
My remaining buddy and I looked at each other and shrugged, and decided to execute the lost buddy protocol, so we made a steady but controlled ascent to the surface. When we got there, we found our third teammate just getting out of the water, quite a long way from where we were. We weren't thrilled with the surface swim back to the entry!
It turned out that our buddy's mask had flooded, and he was unable to clear it on the first attempt. The influx of cold water panicked him, and all he could think was that he needed to get shallower. (Why shallower would make a flooded mask better, I don't know, but the essence of panic is that it isn't rational.) By the time he got to shore, the panic had abated, and he was absolutely humiliated at what he had done; he almost quit diving altogether over the incident.
So there is a true story of a similarly experienced diver, who encountered something that he had no idea would cause him to panic, but it did. We will never know, I'm sure, what set this diver off the other day, but something did -- whether it was a reg that started breathing wet, or a mask flood, or feeling disoriented, or just letting his buoyancy get away from him (I had an uncontrolled ascent from 70 feet when I was just a bit newer than he was), something sent him to the surface, and he may well have held his breath.