It's no myth if you say so many people say it's true, but again, where's it coming from? It's a well established training technique.
I'm not sure what this panic wrestler thing is supposed to mean - he got rocked, he was gassed...even if it was just one and not the other...does it matter?
If he went out on the feet, would that change the way Conor haters would have viewed his performance? Probably not, it would just feed more fuel to the fire, "he got TKOd so he was never a good striker". I was barely a Conor fan, but I respect his belief in himself. He took the Mendes and Diaz fights on short notice because so many of his opponents always pull out, he was in trouble in both, he won against Mendes and rematched Diaz straight away again at WW and got the win.
There's a laundry list of top fighters who pick and choose who they fight in the UFC, one of whom is even the champ, yet Conor takes all sorts of crazy fights that he probably shouldn't. Because he gets into trouble in one, he's suddenly a quitter?
He's not a five round fighter - it's no secret. But he puts the vast majority of opponents away in the first two rounds. Constant decision fighters are the most hated on Sherdog, so you have to be one or the other. You have to move up in weight and take on heavier champs, otherwise you're ridiculed for it (GSP and Anderson), and if you do, you'll be ridiculed for not taking on your current contenders anyway.
You can't win on Sherdog.