No negotiators operate from only one comparable. Panarin isn't the only winger to have signed a contract. And his example wasn't followed in a bunch of other scenarios.
Here's the LW contracts in order:
https://www.spotrac.com/nhl/contracts/left-wing/
For reference, RW contracts. There is arguably a premium for RWs because there are fewer.
https://www.spotrac.com/nhl/contract...ing/limit-100/
Here's centres, to the extent they matter. Look at Barkov's which kicks in next year:
https://www.spotrac.com/nhl/contract...ter/limit-100/