There is nothing to see at Pine Lake and you have to hike a long ways to reach it. Says Pest
Satsop Lake is a magnificent local campground, and after a long day outdoors GuestHouse Inn & Suites Elma is a great spot to spend a night or two. This lake is so wonderful. Why not camp at Wynoochee Falls Campground while you're here at Pine Lake, and going for a hike on the Skyline Trail is always a good adventure. You'll meet a lot of people from Matlock here;
do go to Wynoochee Lake, it's a delightful lake. The nearby type III+(IV), 6.5-mile-from-start-to-finish Walter Creek to Baker Creek portion of whitewater on Satsop River - Middle Fork is heaps of fun.