Is Catholicism really a christian way of life?

Take the communion ceremony as example. A priest supposedly turns a wafer into a representation of Jesus Christ in what is called transubstantiation. The wafer is inscribed with the letter IHS and have a cross on it as well. Historically Egyptians used the same to represent Isis, Horus, and Seb. The cross itself is a prominent symbol used and it in itself has pagan roots in Egypt. The wafer, or as it is now called " the holy eucharist", is then placed in the center of a sunburst design called the monstrance. Catholics are then instructed to bow down to the wafer as it is a representation of Christ. They even made it law during the 16th century during the Council of Trent to accept that the wafer is Christ or they were burned as heretics (Council of Trent Session 13 Chapter 8). Now, I would like someone to please explain to me why God Himself would find this acceptable. This sounds like idol worship to me. Please prove me wrong.