That’s a pretty steep discount! However it’s not live yet on the Google Store and apparently it’s limited to the US market for now.

Source: https://9to5google.com/2023/08/06/pixel-6a-199-discount/

EDIT: even at this time the deal is still not live on Google Store, looks like they might have a supply problem.

On Google Fi however it is listed but it is out of stock:

EDIT 2: looks like Google canceled the deal.