Poll: Evolution of consciousness by natural selection my reason for not liking panpsychism as an explanation for human consciousness is that panpsychism almost implies a certain kind of extremely local consciousness, which means you have a lot of extra work to do to explain the emergence of our apparent flavour of "nonlocal" consciousness - nonlocal in the sense that our consciousness integrates information from many space-separated information sources, and those information sources are processed in many space-separated parts of the brain.
By the time you've explained how "fundamental local consciousness" can integrate all of those non local sources of information and information processing, you probably can explain consciousness itself without even needing to rely on "fundamental local consciousness".
And even panpsychism doesn't have an obvious answer, any more than physically emergent consciousness, to how we experience the qualia of colour, for example. Panpsychism seems like a lazy shortcut to consciousness to me, for those reasons, rather than a full answer. It's the other side of the coin to "we're conscious because of a god-given soul" - another lazy shortcut.
That, of course, doesn't mean it's not TRUE. It just seems a little too convenient. Take this extremely complex thing that nobody quite understands and just declare it fundamental. But still, it could be the case.