In about 1880 they were figuring this stuff out. If you can find old engineering magazines it's fascinating to read their descriptions and explanations. Over the years the explanations become so concise and sparsely worded they lose their efficacy.
Okay we're talking sine-waves here...
You understand that magnetizing current establishes MMF and flux will circulate in the core in proportion to MMF(measured in amp-turns) divided by reluctance of core.
That flux induces a voltage in primary which opposes current flow and we call that voltage "counter-EMF".
Same flux also induces a voltage in secondary because it's wrapped around same core.
If current is allowed to flow in secondary , that secondary current establishes a second MMF which opposes the primary MMF.
Since secondary MMF opposes primary MMF, flux decreases, meaning less counter-emf, so more current rushes into primary because applied voltage is no longer so vigorously pushed back against by counter-emf.
That increased primary current re-establishes flux to a level that makes enough counter-emf to stabilize primary current.
This was described in an 1880-ish magazine as "A beautifuly self regulating system". The experimenters were overjoyed that no external device was required to limit primary current - if you keep the reluctance of core low it'll regulate itself.
I hope this word picture helps you. There's plenty of folks here who can do a better job with the equations that I could.
It is often helpful to retrace our predecessors' footsteps.
If you get interested in antiquities of EE, Sylvanus P Thompson's 1897 book "Dynamo Electric Machinery" is reprinted and is available through Amazon.
https://www.amazon.com/dp/B005YQWUF8/?tag=pfamazon01-20
It has fascinating descriptions of many electrical machines. I used it a lot in my career - Thompson was a master explainer. His "Calculus Made Simple"(1917 i think) never went out of print and is in college bookstores today..
Someplace i have the 1901 version.
old jim