Sure, but that is beside the point: if you compile code like that, you're intentionally making panics unrecoverable. The nature of panics from the language perspective is not any different; you're still in a well-defined state when it happens.

It's also possible to go a step further and practice "panic-free" Rust where you write code in such a way that it never links to the panic handler. Seems pretty hard to do, but seems like it might be worth it sometimes, especially if you're in an environment where you don't have anything sensible to do on a panic.