Anyone know why that is?
The CHAdeMO connector is limited to 125A. That means that even if the station is theoretically capable of putting out 50kW, it can only do so when the battery is at 400V or more (400*125=50,000). At 400V, the Model S battery is already 99% full and can't take that current anyhow. When the battery is empty (~330V), the charger has plenty of power but is limited by that 125A connector to 330*125=41kW. So the 'sweet spot' is when the battery voltage is as high as possible but still able to use the whole 125A from the charger - which works out around 75% full.
Those numbers assume a CHAdeMO unit that implements the full 125A possible - some designs use a 108A limit instead, so lower power but the same effect where the current stays pegged at the max available and the power gradually increases as the battery voltage goes up (looks like the one in the video above is one of these Nissan/DBT units with the 108A limit).