How are you measuring the degree to which people are freaking out? I seem to recall a lot of angst after W was elected for a second term but maybe I'm wrong.
It was angst, but a different kind. This is, for lack of a better term, a more existential angst. No one (well, not many) questioned the very institutions of democracy after that election... after his getting the win his first go around in a questionable manner at that (could you imagine hanging chads in THIS environment? holy smokes).
No one questioned the very fabric of our national community. There was a lot of fear and concern for our country.. that a "dumb" (fair or not) guy was in the white house, who snuck in to begin with and only made things worse since he got there. But almost to a tee, people I knew who were anti-bush would gladly "have a beer with him" and thought he was trying to do the right thing, for the right reasons.
People knew Bush CARED about them. Or felt he did at least.
This is an agnst of someone who not only does not represent much of america, at all, but outright stands for very harmful realities. Bush cared. Then you could have someone who didn't care. Then you have someone who is an actual antagonistic figure to you and your community... and a threat to you, your community and everything you feel is American.
Bush was a disaster, but at least a well intended one. Trump is a racist bigot who has insulted POWs multiple times including Senator McCain, has admitted to sexual assault as a part of his life and entitlement as a famous person, has belittled those with disabilities - literally made fun of in a manner that would have most people's kids here grounded, spanked or both - and has used, on multiple occasions, the very language of the white-supremacist, neo-nazi movement, while then having their "establishment oriented leader" in Bannon appointed as Trumps top advisor.
Not quite the same there, don't ya think?