Yes, the Apple promotion effectively drops the HomePod price to $199.
Plus you get 3% if you use Apple Card. That drops the price to $193.
In fact, it looks to me that you could receive an Apple gift card, and then apply it to your Apple Card balance and in that way get the HomePod for $199 (or rather, $193), whereas if you don't have Apple Card then you would need to use the gift card for a separate purchase from Apple.
Anyone know if my interpretation is correct?
Either way, this is very tempting!