I could only fast for so long (see Copa Lounge Panama City: Food Famine). I went to see if the other lounge had food.
Here is what I found:
Disappointed, I sat at a table and scanned the QR code, hoping there was something. I was surprised that the eggs and potatoes were pretty good. 
The coffee was terrible, like the Copa lounge.
Still hungry, I contemplated whether it was worth breaking my rule of not spending money at airports for the world’s best Italian food (see Olive Garden Times Square: Real Italian Food).
Overall
PTY airport is excellent for quick connections, not for lounges.