#3 Kevin Owens doesn't need the title
Think about it, does Kevin Owens need to prove that he is the King of the Ring at this point in his career? This is similar to Seth Rollins, Shawn Michaels, Daniel Bryan, and Ric Flair competing for the World Cup to be labeled The Best in the World.
Owens is a former Universal Champion, as well as multiple time Intercontinental and US Champion. This is a testament to the fact that he is indeed one of the best wrestlers to walk the ring in WWE today.
A former WWE writer just went after JBL for his comments HERE
With that said, WWE would be more focused on building a stronger character for Owens rather than have him get busy in the tournament for the next few weeks. Will his loss to Elias be the tipping point?
On the other hand, a newer heel could do much better with the King of the Ring title at this point, with two babyfaces holding the top two men's championships.