Pine is soft. It dents VERY easily.
However it can be protected very well with Poly which in itself is very protective. But it still will dent quite easily.
I love my Pines and I have a lot of em Strats and Tele's. They are very light and really comfortable for an ol geezer like me. I played a Fender 25th anniversary Stratocaster since 1979 and let me tell you that sucker was like a cinder block!
Pine is still used by lots of guitarists and builders like Glendale.
I have had a pitch/sap problem with only one Pinecaster. Not bad since I have so many.
The biggest negative is the softness. But not all pine is soft. Southern Yellow at least the 100+ year old Tele body I have is nice and firm. All I used on it was a Danish Oil.
I have another Piner that is Eastern and it is soft as heck and only has a Howard's feed n wax finish. It has a nice buckle rash going and it is about 1 year old. It doesn't take a lot to dent this one.
Another one I built using very old 100 year old Eastern Pine and painted with a light coating of re-ranch Fender blonde is insanely soft. I was playing a gig with it and a drunken buddy of mine decided he wanted to sing and knocked a mic over and it left a very ugly mic screen dent.
So everything you have read above is true and yet people still like to build with it. Including Fender!