Working on updating the Merfolk vs Goblins duel decks. Looking to spend about $25 on each.
So, the biggest changes will be bringing up the number of lords to 4. We'll add 3 Masters of the Pearl trident for ~$13 and get rid of the streambed aquitects.
We'll also add 4 Silvergill Adepts replacing 2 scroll thiefs, a tidal wave and the inkfathom diver. The adepts are cheap and available at roughly $0.75 a piece, making this the easiest upgrade to the list. The lords should give us all the island walk we need, and we can bring down our curve by eliminating the slow 4 cards listed above.
Finally, we will replace the four Aquitect's Will with 4 copies of Spreading Seas @ $2.44 a piece for roughly $10. Now, this is a pricey upgrade, but shutting other decks off colors will be a huge boon.
If you wish, you can instead cut 2 sandbars for 2 Lord of Atlantis, for ~$10 instead of getting the spreading seas which will improve your matchup against goblins, but probably not be quite as beneficial as spreading seas against other matchups.
Another option is rounding out the playset of Merrow Rejeerey, which will also run ~$10. However, since they have a cmc of three, I would only cut 1 Sandbar, and then look to cut both a mindspring and a wakethrasher.