Okay, so he had one obvious outlier in 2015, not debating you there. Then he proceeded to have 3 straight seasons with identical xWOBACON and slightly worse xWOBA between 2016 and 2017-2018. A ~.315 wOBA in San Francisco is like a ~95 wRC+? Obviously he was awful last season or we wouldn't have signed him to a minor league deal with an opportunity to make the team out of ST.
I think it'd be unfair to look at him having one clear down season and say this is who he is going forward, a simply awful baseball player. 29 is definitely not old lol, post prime at worst, but I doubt he's had one of the worst possible declines where he is on the aging curve, so I'd bet on him being closer to his xWOBA from the last couple of seasons (even averaging out his xWOBACON gives roughly the same as his projection). His actual batted ball profile hasn't changed, as his LD%, GB%, FB% and IFFB% are all along career averages.
From the beginning you argued that Panik is absolute trash and has no purpose being on our roster, everyone else is arguing that he's just a bench player who won't hurt us too much and will be fine in that role. If Montoyo plays him too much, which I'm not sure he will as I can't see Biggio getting as much time around the field as before, then that has nothing to do with his projected performance.