It should come as no surprise that a naked speaker cabinet is going to sound 'boxy'; 'wooden', and/or 'hollow' . Proper acoustic treatment eliminates that. Plus it will also break up and absorb standing sound waves and rebounding waves inside the cabinet. Ideally you want only air coming out of your ports, and not sound. All the sound should be coming from the cone(s) of your speakers. Lining your cabinet will also benefit your clarity of bottom end effectively tightening it up. Same thing for the entire mid-range especially the all important low mids where the real punch and attack lives. The absorptive qualities of a good quality acoustic foam will mimic the natural decay found in a larger cabinet and in effect makes your bass sound 'bigger' even though it isn't. You might think you would be smitten with sonic goodness but in reality this is pretty subtle stuff, but it is additive and if you have a good ear for tone you will be well pleased with the results.
A poorly designed plywood bass cabinet can be extremely resonant, making all kinds of undesirable noises at various frequencies. MDF is of course much more dense and heavy. It is a good choice for sub-woofers.
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