Italy, Wales' first opponent in the 2017 tournament, have finished bottom of the table 11 times, and Georgia and Romania have been pushing to be included in the top tier.
But the 30-year-old, set to win his 46th cap in Rome, believes that would be a premature move.
"I think it's a debate to be had in a couple of years time," he said.
Italy's captain and talisman Sergio Parisse reacted angrily when the suggestion was put to him during the 2016 tournament.
And Six Nations chief executive John Feehan has said relegation will not be introduced in the short to medium term and dismissed criticism of Italy as unfair.
Owens expects the Azzuri to pose a serious challenge in Rome, where Wales have lost twice and believes that if relegation is eventually introduced, the teams and players will deal with the issue.
"I don't think any team goes into the competition to finish bottom," he said.
"If [relegation] comes, it comes and the focus wouldn't change because no side goes into the Six Nations wanting to win the wooden spoon."
Italy coach Conor O'Shea has made five changes from the team which lost against Tonga in November for the game against Wales.
It is also the first time Wales have faced the Italians since the appointment of their new coaching team.
"It's a tough away game, especially Italy first up," he added.
"They'll be wanting to build on a good autumn campaign after beating South Africa and they'll have been disappointed losing the last game against Tonga.
"But they've had time now with Conor O'Shea, Mike Catt and Brendan Venter in camp.
"We know hard it's going to be out there and it's all about getting a good performance first up."

The European Space Agency astronaut arrived at the orbiting space lab on Monday, along with two crewmates from Russia and America.
But what exactly will she be doing during her time in space?
The ISS gives the chance to do scientific experiments that cannot be done on Earth, as the station offers an environment of microgravity.
Here we run through a few examples of the experiments on Samantha's 'to do' list...
Samantha will operate a gadget called an electromagnetic levitator, which can heat metals to 2,000Â°C and then cool them very quickly.
This will be a chance to see what happens to different metals when they go from liquid to solid, without the effect of the Earth's gravity.
It's hoped the results will reveal more about the physics of the metals and how they work.
Samantha will be testing new machine technology and how well they work in space, such as this astronaut joystick.
Using a joystick in space may feel very different in space compared to on Earth.
So these experiments will see how being in space might affect how well an astronaut can control a space robot or space machinery.
Another thing is that equipment may need to be attached to the astronaut so it doesn't float away. The testing will also see what impact this has.
Samantha will be doing lots of experiments to see how being in space affects her body.
For example, she will experience 16 sunrises and sunsets every day on the International Space Station and be tested to see how this affects her body clock.
Another important subject is food and energy. Experiments to see how much food an astronaut would need for a long mission will be carried out. Samantha will record what she eats and her energy levels over a period of time.
Other things that will be looked at include how space affects skin and why many astronauts get headaches.
Wales hooker Ken Owens has backed the decision not to introduce relegation from the Six Nations.
[NEXT_CONCEPT]
Italy's first female astronaut, Samantha Cristoforetti, is spending almost six months on the International Space Station.