I would prefer the veto rights being reduced strongly.
At the same time, being from a small country, it also worries me that small countries such as Finland can get trampled by the bigger ones. Finland has very close to 1 % of EU's citizens. There is already a system where smaller countries get more places per capita in the European Parliament than bigger ones, but in the end it changes little. In the EP, Finland has 15 places out of 720, meaning we have about 2% of all the places. And therefore, about 2% of the political power. Assuming the MEPs who are from very different parties could even unite as one front in the first place.
It is a bit scary if Finland only has a 2% weight in any decisions made in the EU. There are already things where we are getting accidentally trampled: There are EU rules about having to add an additive to diesel fuel, to make it less polluting. However, that additive freezes in temperatures that are commonplace in winters in Lapland, at least in nighttime. This means, it is de facto illegal parking a diesel vehicle outdoors during a January night in Lapland. I do not think this was ever the intention of the lawmakers, but that's the law they ended up writing.
But still: I think it might make sense that there would be some way of getting around a veto, but it should be made in some manner unappealing to use unless really needed. And also, the power should, in general, be moved from commission to EP, thus reducing the number of cases where the veto right exists.
I wonder if some kind of "emergency brake" could be deviced for situations where the parliament is about to make a decision that will disproportionately damage a member state. Maybe this could be organized as a law, so that a court could decide if something of exceptional national importance is being overlooked by the EP?