If you can afford it a "dip" around the pond with a large excavator as far as it can reach out would get rid of two problems at once: the lilies and a substantial amount of muck. Then you could keep the muck at bay with the aeration.

IMHO removing deep muck with aeration and bacteria is overrated. Keeping it at bay with aeration does work for sure though.

If pigs could fly bacon would be harder to come by and there would be a lot of damaged trees.