It is not as much value as Ravenous Chupacabra, not as much range as Hero's Downfall, not as much tempo as Fatal Push, nor as much flexibility as Dismember and yet it remains my go to for a pure creature kill spell
If you're looking to play Mill as competitively as possible, this is where I'd start, although splashing into white is another option that offers potential
After all, an opponent who reduces your life total low enough can always win with a direct damage spell like Lightning Strike or some other unforseen shenanigans outside of combat damage
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Sieges have some special rules that limit who can protect them, and they let their controller exile them and cast them transformed when they are defeated
This can be a significant cost reduction, sometimes letting you perform movement that would normally cost you 4 or even 6 ink