The "Pizzagate" hoax had a clear political target (Hilary Clinton and other Democrats), whereas the "Satanic Panic" stories aimed more to reinforce suspicion of urban settings and modernity.
Hence, I think "Pizzagate" is a continuation of the Vast Right-Wing Conspiracy Cllinton-Bashing machine we saw in the 1990s ("Vince Foster is really Chelsea's father and was abducted by Aliens! We have proof!")
I see where you are coming from and it's valid point. Though doesn't still kinda seem like it's the same BS fear being played on and just the evolution of the SCSC panic? It's the same group of people spreading it and for similar reasons.