Any point that you need to be included in your reconstructed model needs to be visible in at least 3 different images i.e. for a single straight flight line over flat ground you need >=66% overlap in the direction of travel.
With undulating surfaces where low areas are easily occluded by high areas you would need more photos to ensure you get your '3 shots' of the lower levels which could be occluded as soon as the camera has moved only a small distance, otherwise you will only capture the top most bits, depending on the density of cover, hence the smoothed result.
There may be other reasons too such as lower light levels the deeper you look, or movement in the trees, I'm not a forest person!