Maybe that was more wishful interpretation, but if I remember correctly the idea is to put more logic into the compiler (good old "sufficiently smart compiler") to do the optimization than do it at runtime in HW. IMHO this implies less logic in the HW which might make the implementation simpler (I am SW guy so my computer architecture knowledge might we skewed).
Further more I believe that we might be able to infer more and more bounds about runtime behavior that could possibly give rise to more aggressive optimizations. In particular the Mill provides more predictable performance than traditional architectures which is a feature in itself as it e.g. simplifies (again IMHO) real-time programming.
So that's why I believe the implementation hasn't to be at least harder than traditional architectures.
I am really looking forward to see some results and admire their effort.