Yes, European Commission decides the laws. Then a “trilogue” negotiation happens between the Commission, MPs, and EU government representatives, but the MPs don't hold the pen on the final wording (Commission does).

MPs can't therefore repeal laws; they can at most ask the Commission to set themes on the program. The Commission is therefore strongly dominant, as it is composed of career unelected officials who can wait for a compliant Parliament to pass the laws they want and target MPs in negotiations. This is what they do with ChatControl.

Of course there are no checks and balances for the Commission officials, who are bureaucrats with an opaque agenda. The EU is a weak form of democracy, which is geared toward bureaucratic capture and legal inflation.