Azure elastic pool: Can I create as many databases as I want?
The server has 96 GBs of RAM and a 3.4 Ghz processor


The elastic pool is mainly for smaller workloads, and multi-tenant applications.  For lift-and-shift of existing SQL Servers, you're normally better-off with Azure SQL Database Managed Instance.

Only Managed Instance (or SQL Server on an Azure VM) supports cross-database queries, SQL Server Linked Servers, Transactional Replication publication and distribution, SQL Agent, and other features an on-prem SQL Server may be using.

Managed Instance starts at 4 vCores, where Elastic Pool is available in smaller sizes, down to less than 1 vCore.