I do not consider myself experienced, but I was at or beyond the threshold of panic in completely trivial situations that were well within the limits of my equipment, training, and experience, and with a thick margin. I was able to think rationally, and that rational thinking did little to help, as I felt my dog brain take over my frontal lobes, and make my body act against my will while I retained the full awareness of the situation and very little ability to control it. This makes me believe that anybody can panic.
One such example was on the surface, waiting before descent after a gaint stride, when I started to hyperventilate for no apparent reason, with a full tank, mask on my face, regulator in my mouth, a line to hold on to, and divers on a boat within a few feet. My last dive was a couple of weeks ago, I was a certified rescue diver, I knew what is happening to me, my mental state was more like a surprise if not annoyance rather than fear and desorientation, and amazingly, despite not being in danger, my attempts to calm myself down did not seem to really help. It took about 5 minutes for my breathing to return to normal. If this had happened at depth, it would probably not go down well. The only reason for this scenario that comes to mind is the fact that I had a bunch of new equipment with me (lights, camera, etc.) that I had not used before, that was not streamlined, and that felt kind of awkward. But this idea has not even crossed my mind until after I was back on the boat. Clearly, the trigger of this near-panic incident must have been something completely unconscious, and I doubt having more training or experience would have made much difference at all in my ability to suppress these sorts of symptoms.
Another example was after I aced my master diver skills, at a swimming pool. With a newfound confidence, I attempted the bailout exercise for the fun of it. As it happened, the tank slipped out of my hands, although I was able to catch it. As I was very slowly sinking, catching my tank and then turning the valve open for maybe 15-20 seconds or so, I knew that all I need is a few more turns of a valve I was already holding, and that it will take probably a few seconds only to be safe, and I remember trying to focus on completing that simple activity knowing that it is not that difficult, but I found myself swimming back to the surface nevertheless. I can definitely say that what I felt during this exercise was annoyance rather than disorientation, I certainly did not have thoughts rushing through my head or a spike in adrenaline level (since I know how it feels). Given the amount of time it all took, I probably had plenty of air in my lungs, and I was aware of that, but the urge to breathe was far too strong. I cannot believe that any amount of experience can allow someone to control this sort of an involuntary reaction. This is obviously driven by a separate cirtuit that the brain proper is not even connected to.