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Panpsychism doesn’t explain anything, it just asserts that consciousness doesn’t have an explanation, that it just “is”. It’s not impossible that something like panpsychism could be true, but knowing that wouldn’t get us any closer to understanding consciousness.

It also raises more questions than it answers, such as how an integrated consciousness arises within a brain/mind, whereas it presumably doesn’t in, say, a hamburger patty. Ironically, attempts to explain that start to hint that such an explanation might not need to rely on panpsychism in the first place - i.e. if you can explain how consciousness arises from a sum of parts, you may not need to postulate that it exists independently of that combination of parts.