Panarin will probably be a better point getter than Patrick will be, but that is not all that matters. Patrick has the skills to potentially be a Toews or Getzlaf level player, and more realistically a Monahan level player. Most teams that are in contention would prefer that as a piece of a rebuild than a ready made piece that will be 28 to 29 by the time they are ready to contend. That also doesn't include the fact you have to pay Panarin 6 million a year during a rebuild, then probably only get 3 to 4 years out of him while you are actually trying to contend.
Not all 1st overalls are equal, and this isn't the strongest draft, but in general it is reckless for a team that is currently at the bottom of the league to trade a draft pick for a player in their prime they have to pay. The only team it might make sense for is the Isles, but they would have to know that Tavares would re-up on July 1st, 2017. The Isles timeline makes it a discussion atleast worth having.
Teams like Toronto, Vancouver, Carolina, Arizona, Colorado, and Detroit are probably too early in their current development strategy to make an aggressive move like that.