This is obviously a very control-oriented charm as its Dimir colors imply. You can destroy a little guy like Dark Confidant in Modern, counter something like Scapeshift or maybe mess up a Bloodbraid Elf cascade (well, maybe not). It might end up being a two-of in a future Standard Esper control deck.
There will probably be quite a few powerful sorceries in Type 2 and let’s not forget all the ‘Miracles’ cards are Sorceries as well. So it’s like the ‘Despair Charm’ countering all the hope/miracles. The ‘mill’ part is so conditional I would almost never recommend it except maybe in draft to give your opponent a dead draw or to instant speed ‘Index‘ yourself when you really need something good.