The excerpt doesn’t add Read more

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The problem is the difference between the teaser and excerpt which is mistaken one for another in many case.

The excerpt_more filter that you are using will change the teaser more text, not the excerpt. The right filter for this is the get_the_excerpt. But it doesn’t change the [...] of the excerpt, it gives you the ability to change the excerpt itself. So in this case you have to add the Read more to the excerpt and return that.

Here’s the code –

// Add more-link text to excerpt 
function new_excerpt_more( $excerpt ) { 
    return $excerpt. '... <a class="more-link" href="'. get_permalink( get_the_ID() ) . '">' . __('Continue Reading', 'baskerville') . ' &rarr;</a>'; 
} 
add_filter( 'get_the_excerpt', 'new_excerpt_more' );

I will suggest you to read the article that you linked to your post again now. This will give you a better understanding of the difference now.