Here: a nice clean derivation will help make things a lot clearer; to show that under the condition of constant thrust (and throttling) in a constant direction, the vector $ - \ln\left({M/M_u}\right)$ is a constant of motion - i.e. independent of time, where $M$ is the rocket's (time-varying) mass, $M_u$ is some fixed reference mass (e.g. $M_u = 1\text{ kg}$), $$ the rocket's speed and $$ the the thrust velocity relative to the rocket. Apparently, your $_e = -$.
How is the Rocket Equation derived?
Like this. Let $$ and $$ be the vectors respectively denoting the momentum of the rocket and the total momentum of all the fuel that’s been expelled up to a given moment, let $M$ and $m$ denote their respective masses and let the vector $$ denote the rocket’s velocity. For simplicity, ignore the effect of gravity or other external forces, even though we’ll keep them in initially.
Propulsion occurs with part of the rocket’s mass (the unused fuel) becoming the mass of the expelled fuel; similarly for the momentum. Let the respective rates of transfer be $μ$ and $$. The latter quantity - the rate at which momentum goes from being part of the rocket (the unspent fuel) to becoming part of the spent fuel is one and the same as the force of propulsion of the rocket - oppositely directed (law of action and reaction).
Therefore, you can write the following system
$$ = M, \quad \frac{dM}{dt} = −μ, \quad \frac{dm}{dt} = μ, \quad \frac{d}{dt} = − + , \quad \frac{d}{dt} = + ,$$
where $$ and $$ are, respectively, the external forces acting on the rocket and the spent fuel. For instance, in the presence of a (near-)constant gravitational acceleration $$, we would have $ = M$ and $ = m$. But, we’ll ignore the external force and just set $ = $ and $ = = $.
Notice that for the total system - rocket plus expelled fuel - we have
$$\frac{d(M + m)}{dt} = 0, \quad \frac{d( + )}{dt} = + = .$$
So, past this point, we don’t really need to consider $m$ or $$ anymore - though the people who paid for all that spent fuel do. So, they can be removed from the picture.
We will also assume that the fuel expelled from the rocket is expelled at a given “thrust” velocity $$ relative to the rocket, itself. That means its velocity is $ + $. The direction of the vector $$ is the direction of the thrust, and it is normally assumed that the corresponding speed $u = ||$ is fixed - though there may be some ability to control the level of throttling to adjust $u$. Then, we have the following additional relation
$$ = μ( + ),$$
which expresses the rate of momentum expelled in the thrust in terms of the rate of expelled mass multiplied by the velocity of the thrust.
Substitute for $$ and $$ to obtain the following:
$$\frac{dM}{dt} = −μ, \quad \frac{d(M)}{dt} = −μ( + ),$$
or upon combining the two:
$$\frac{d(M)}{dt} = \frac{dM}{dt}( + ).$$
Use the product rule,
$$\frac{d(M)}{dt} = \frac{dM}{dt} + M\frac{d}{dt},$$
substitute this in to get:
$$\frac{dM}{dt} + M\frac{d}{dt} = \frac{dM}{dt}( + ),$$
and cancel out the $(dM/dt)$ from both sides to obtain:
$$M\frac{d}{dt} = \frac{dM}{dt}.$$
Since $d(lnM) = dM/M$, we can re-write this as:
$$\frac{d}{dt} = \frac{d(lnM)}{dt},$$
So, if we assume the thrust has a constant throttling in a constant direction over a period of time - so that the vector $$ remains constant over that period - then we obtain (upon integration), the following:
$$_1 − _0 = \left(\ln{M_1} − \ln{M_0}\right) = \ln{\left(\frac{M_1}{M_0}\right)},$$
where $\left(M_0, _0\right)$ are the rocket's (mass, velocity) at the beginning of the interval and $\left(M_1, _1\right)$ are the (mass, velocity) at the end of the interval. Note, in particular, that $M_0 − M_1$ is the total mass of the fuel expelled during the thrust, so that $M_0 > M_1$ and $\ln\left(M_1/M_0\right) < 0$. Therefore, the net gain in the rocket’s velocity $_1 − _0$ is in the opposite direction than the thrust velocity $$.
Thus, under the condition of constant thrust and throttling in a constant direction
$$_1 - \ln{M_1} = _0 - \ln{M_0},$$
i.e.
$$ - \ln{M}$$
is a constant of motion, where - for dimensional consistency - we take the "$M$" in "$\ln{M}$" with reference to a fixed unit $M_u$, e.g. $M_u = 1\text{ kg}$ and write it as $\ln{M/M_u}$.