The reason THE PIER was built is because Cathay Pacific started parking most of their flights now at the fare end of the Y shaped terminal that's about 1/2 mile away! PAssengers who use THE WING have to get to the gate at least 20 minutes prior and with the travelling time thrown in on the TRAIN, you're looking at least 30-40 mins.
THE PIER is great for CX's departures departing from gates 60-80. The First Class lounge is smaller than THE WING'S but I like it as it's cozier. I saw some familiar faces at THE PIER yesterday while passing through from LAX enroute to SIN.
All in all, again, CX has epitomized the luxury of travel and in lounges!