Some years ago I built a couple of two-tier tables out of pine. It was my intention to paint them gloss white, but before I did so a house-mate asked me, "why paint them?" I had no answer and never did paint them. In fact, as I'd constructed them I filled in blemishes with fillers that are somewhat unsightly, so in that respect I suppose the pieces do beg for paint. Maybe someday.
Last year I constructed 3 large pine bookcases, and I again could have left them unfinished but I instead decided to finish them. I did a fair amount of research and decided on shellac. Actually, I'd gotten the idea from a fellow in a store that sold pine bookcases (unfinished). He recommended a white shellac, and I believe he was referring to a shellac that when dry looks like white paint (has white pigmentation). Shellac has the virtue of sealing effectively, so that resins do not exude from knots, eventually spoiling the finish.
I did further research before embarking on the project. I decided to finish the wood prior to assembling the bookcases (after cutting and sanding however). I also decided to do a preconditioning with boiled linseed oil - wipe on, let sit 15 minutes, wipe off thoroughly with rags, and let sit for several days or a week or more to cure (dry to the touch). This was said to accentuate the grain for a more pleasing effect after shellacing.
I chose an orange shellac and applied two full coats after a thinned (with alcohol) shellac initial coat.
Lastly, a couple of applications of furniture wax with 00 steel wool, followed by polishing with rags, gave a fine furniture look and feel. I'm very pleased with the warm look of the finished bookcases, which I just finished installing in their final location yesterday.
You may not want to do something like this if you are antsy to get these installed, and I figure you probably are. Anyway, maybe you are completely OK not finished them at all! :) I don't believe that it's "necessary," and that was your question.