Yes, that could be done. The myDBR installation and the database need not to be on same machine. You can have multiple myDBR's running on same machine accessing different databases.
Multiple database support could be added under same myDBR installation and UI. In addition to reports myDBR saves report structure (categories) handles users in database and some extra things. All this would need to be synchronized if multiple databases would operate under same UI. This could be done of course, but for now it is just easier to put mutiple myDBR's on same machine (this will not affect the performance in any ways). Since myDBR report are accessible with an URL, you could easily build a front end with reports to multiple sources.
Having a free Sql Server to act as a hub for all databases does also have the benefits. As Brad mentioned, you can even write reports that combine information with multiple databases and still have only one server to talk to.
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myDBR Team