Chinese Zoo Admits Pandas Are Painted Dogs After Outrage
(www.tmz.com)
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Part of the problem is that pandas are the kind of animal that generate donations which can then be put towards other less generally appealing animals that are also endangered. The general public like cute and fluffy animals. Wet and slimey ones less so. So pandas end of as the flagship species for conservation efforts.
And if those donations outweigh the cost of keeping them alive, that would be fine.
I don't believe that is the case, as this is China and they are both hilariously incompetent and greedy. That money is never going to reach the hands it deserves to be in beyond a token level to keep appearances.
I was more meaning from a global NGO PoV. Specific countries are going to be different brands of incompetent for other reasons but still have the natural resource on their side to offset things. Mostly.