We downloaded an evaluation copy of the software and processed through a sample of our data to give the kids a feeling for how it works. The model that was generated is comprised of about 1,000,000 3-dimensional points (referred to collectively as a 'point cloud') that have actual X, Y and Z coordinates and are colored based on the source imagery. You can move through the point cloud, take measurements and extract data from it. Mapping companies do this sort of thing regularly.
The clip below is a TATTS team member - Mitchell - interacting with the point cloud within Pix4D. You gotta love his excitement. Notice in the beginning the 20 or so images that are floating in the air. Those are the pictures taken from our hexarotor. Notice too that when he clicks on the ground the red lines show which images can see that particular point. You need at least 2 images to have the same point in order to generate a 3D model.
Here is a screen shot from Pix4Dof the point cloud.