I think from a physical/scientific standpoint it is substantially more plausible for consciousness to be an emergent property than a fundamental feature of the universe. In this regard I prefer emergentism to panpsychism. However, I also think there is one crucial thing the panpsychist gets right: there is far more consciousness in the universe than we generally assume. I think even the most simple and basic forms of life have some sort of internal experience. That experience may not include complex cognition or reasoning or identity or memory or any of the other mental faculties we associate with consciousness in humans. But there is still interiority, and in my opinion that is what is central to consciousness. To be conscious is to have some experience of the world, as opposed to no experience of the world. Under this definition, it makes sense to consider all forms of life as being conscious.