One thing that helped me was doing some tutorials for pico-8, an intentionally 'weak' game platform, one of which is a platform game with a simple / understandable inertia / gravity simulation (jumping, running left/right; think Mario). It was understandable enough with an x / y position for the character and a delta-x / delta-y representing their current speed. Every frame the dx / dy would get changed depending on player input and/or character state.

Ex: if player presses jump button, set state to 'jumping' and dy to 1. Every frame, dy = dy * 0.9. When dy <= 0, set state to 'falling'. Every frame, dy = dy * 1.1 until dy = 1 (terminal velocity). Then add some collision detection.

I think those basics are also behind the simpler physics simulations, the 'falling sand' types would be ideal for an application like this.

Gravity is constant acceleration (in most games). Your algorithm is broken.