To be fair, Owens got to look like Superman against Cena (ironically enough). He took 3 AAs and kicked out of all of them (including the top rope super version that NOBODY kicks out of). His tapout occurred basically because of exhaustion.
Also, if Cena's US Title Open Challenge wasn't consistently the highlight of Raw on a weekly basis, then Owens likely would have won the US Title last night instead.
Cena challenging for the World Title isn't the worst idea, because we know he's not going to beat Rollins right now anyway. Plus, he's been having the best in-ring run of his career this year. Why not use that momentum to help establish Rollins as champion (especially when Seth's been having a rather lackluster reign thus far)?