"No interest - that is certainly not a focus," Watters told reporters in Adelaide on Saturday.
"We want to be competitive every time we play ... players want to come and win.
"But is winning the NAB Cup a focus? Not at all."
Watters' Saints meet Adelaide and then Port Adelaide in their triple-header opener of the pre-season cup at AAMI Stadium on Sunday.
The second-year coach said maintaining the health of the playing list was his priority, as well as exposing his younger players to key roles.
Watters said the Saints had 26 players aged under 23, with 20 new footballers to the club in the past 12 months.
"We would like to think that out of that demographic, that with a lot of hard work and continued development, there will be some exciting things for our fans to see," he said.
"We have been training for a long time on evolving our game plan and you can only go so far playing against yourself.
"So it's an opportunity to play against opposition and put our game plan under some pressure.
"At the same time, we want to expose a lot of the younger players on our list as well - we will be putting them in primary roles, not hiding them, but giving them an opportunity to develop."
"We want to see our game plan executed under more pressure. We want to see where some of our first to third-year players are at - they won't be perfect so it will give us an opportunity to see where they need to improve."
