Giant panda's are silly animals anyway: vegetarian bears in the colour scheme of penguins.[1] Can't they make up their minds?
You remind me of a bloke at work who despises Pandas because he heard somewhere they were an evolutionary deadend. He argues that people throw money into conserving them because they look cute, whereas there are other, less attractive animals more in need of funds.
I'm not so certain about the "evolutionary deadend" part. A good argument can be made that that qualification is only valid for extinct species, which Giant Pandas aren't. That said, I certainly sympathise with that bloke's POV. Considering that there are some 2000 Giant Pandas knocking about, of which some 1600 live in the wild and more than 300 in captivity[1], all the effort and money spent on their conservation may well prove futile. As I understand it, quite a few of the wild ones effectively live in panda farms.
The problem is, of course, not with the pandas, but with us. Habitat destruction is the sole cause of their precarious conservation status. In that respect their situation is a fine example of the plight many, if not all, endangered species find themselves in. Captive breeding may save those species from immediate extinction, but I fail to see how it'll save them in the long run. Once extinct in the wild they'll never live in the wild again, even when there's a thriving captive population.
Giant Pandas are the poster species of wildlife protection, a Good Thing I suppose, but it's quite tragic that other species go extinct due to clearing of tropical rain forests every day. Most of those species are plants or insects and other invertebrates; species far less sexy than pandas. The tragedy is that many of those species go without us knowing they existed.
[1]Is Breeding Pandas in Captivity Worth It?
regards,
Hein