Following Sunday's 2-1 loss to arch-rivals Tottenham in the North London derby, Arsenal are currently 15th in the Barclays Premier League standings, and have already conceded 16 goals in the league this season.
And while Keown admits some of Arsenal's defending this term have been downright shocking, he concedes manager Arsene Wenger currently has a young team on his hands, who are still learning their trade.
"It's frustrating when you see the simple goals they are conceding," Keown said on Sky Sports News.
"It's astonishing to see what's happening. But we've got to remember that these are young and naive players.
"People talk about the defences of old but we made mistakes along the way. It was only when I was 30 years of age that I fully understood the game and what I wanted from people in front of me."
In addition, Keown does not believe the Gunners defenders are solely to blame, and insists the rest of the team have to play their part in protecting the backline.
"The Arsenal back four is exposed by the midfield and front players not working quickly enough. There's no urgency when the ball goes out of play.
"It's a moment for the opposition to steal the initiative against Arsenal because there is no one to marshal things - they are lacking leadership at key points."
One good example of the case that Keown makes was the build-up to Tottenham's winner on Sunday, where Mikel Arteta had allowed Sandro to slip his clutches, and pointed for young team-mate Aaron Ramsey to pick up the Spurs midfielder's run into the box.
As it turned out, the lack of initiative on Arteta's part ultimately led to the ball spilling lose to Tottenham right-back Kyle Walker, who fired a swerving shot from 30 yards out past Wojciech Szczesny in goal.
Nonetheless, despite many suggesting it could finally be time for Wenger to leave the club, Keown insists there is no better man for the job.
"There isn't a better manager [than Wenger]. He's one step ahead and he will sort it out.
"It's a period of alarm but where he's very good is working with the players on the training ground.
"He hasn't had the time at the moment, but I feel once he can stitch the information into the players, the future will be good again for Arsenal."
Keown started his career at Arsenal in 1984, before returning in 1993 where he played at for the next eleven years, winning three Premier League titles and three FA Cups under Wenger.