Unfortunately, Saffron Olive already got around to talking about Modern Mill, which probably pushed the cost of all the cards involved by like 50% but didn't add incredibly much to the state of the art. You should probably go read it, I'm just going to recommend a bunch of the same cards. I do have other commentary, however:
Modern Mill is a perfectly viable strategy, but you need to keep in mind: your opponent has 53 cards and 20 life, so the exchange rate against burn is just under 3:1. It does not meet the high-water mark for efficiency under those terms.
Mill's Lightning Bolt costs two mana and 25 dollars. The Grinding Station combo you posted requires two cards to deal the equivalent of only 2 damage, and it repeat condition is that you can come up with more of a super-specific token artifact which is literally just not ever going to happen in your entire life. Spellweaver Helix is a reasonable idea but it's not even a combo, it's just how the card
works, so again, Burn can use it exactly as well as you can.
In fact, pretty much the only Mill card that has the edge in primary value is
The majority of tuned modern decks will fulfill that condition for you with fetchlands, but you can also urge them along with
Ghost Quarter and stuff. Needless to say, you can get four Archive Traps or you can get the fuck out of my face. You should probably even pair it up with its
fetch card and run one-offs of
certain other vital traps, just 'cause they're there.
But if, aside from Archive Trap, Mill is just flat out numerically worse than Burn in every other way, how the hell do you play Mill as anything other than an ersatz method of punching yourself in the dick? Well... Secondary value:
Basically, if you're not taking advantage of the Mill's unique propensity to fill up graveyards really quickly, then you are literally just not playing a mill deck at all. True facts. The stylistic imperative is to hold off your opponent using unique assets, where a Burn deck would only be able to ping their creatures. If you happen to happen to pull a 5/5 flyer on turn 1 and just get to attack with it for the win, that's good too.
One genre of card in particular which uses the graveyard as a gatekeeper is, again, the lobotomy crew. So, in Mill, our friend Extirpate is a more generalized answer to your opponent's important cards, rather than a narrow response to combos that habitually sacrifice themselves. In the case of Mill, however, you face a hard-counter in the form of
certain Eldrazi who undo all your efforts both automatically and perpetually. So, instead of one which is immune to counterspells, you need an Extirpate that's immune to you being out of mana, so that you have it ready to go at any time.
Luckily, this card does exist. Don't know if you want to spend the money on it though.
For your perusal, there are some certain other mill engines that people may or may not think about:
Since you're Blue, unblockable creatures are easy to get your hands on. For five mana you can stick this Sword on one and attack for ten cards. That's poor value; you could have paid two mana to stick a bonesplitter on that same creature and attacked for three damage. If you could do something cool with 2/2 punks it might be different but as it stands, the Sword doesn't shape up to much.
Hedron Crabs are tempting renewable mill-power since they're so goddamned cheap, man-wise. People usually think about them in conjuction with fetchlands (also a good idea) but I fancy myself some Amulet Bloom, so: The bounceland can target itself, meaning you can use it to reliably hit your Crabs every turn if you aren't drawing any other land. The Amulets will let you use your bouncelands even if they're not sticking around,
and extra amulets will give you extra mana. The amulet also makes the Shelldock more immediate, which is good in a format where nonbasic land destruction is a commodity. Finally, you can bounce the Shelldock and take it for another spin on the subsequent turn, which will likely finish the game. They stopped printing tutors that send cards to the top of your library, but there are a scant few cards that can reliably place something good where your Shelldock can reach it; Noxious Revival happens to be one of them, though I'm not necessarily recommending it.
So there's this deck archetype called "Owling Mine" that employs a
peculiar artifact to punish one's opponent for having a good hand, and then naturally proceeds to
give them that hand. Once they're already saturated with options, further cards aren't (theoretically) very much more help for your opponent... In the meantime, you enjoy blue removal via bounce and lots of draws via symmetrical card abilities. The Mill version of the deck is satisfying because the card draw is, itself, a form of library depletion, and then you play cards to force a recursion. Your main issue is with decks like Affinity where your opponent reduces all their cost to 0 and uses every goddamned draw you give them. Something I'm wondering is if it would ever be worth the tempo loss to
uncap the land-play restriction and actually try to use the hilarious number of cards that you're coming up with, too.