Myself (and a couple of others) are merely pointing out that one engine inop isn't automatically a "mayday", and may not even be a "pan".
But rustle, if you don't declare a Mayday, how is ATC going to know that it has to launch a big green rescue helicopter with Charlton Heston aboard in a spirited but flawed air-to-air rescue attempt? You'll be bravely fighting the controls on your own without all that extra help that ATC can provide you with to keep your aircraft flying the right way up...