Sure, and it's fully refundable. So there is no reason not to put down the deposit and then cancel if you don't take delivery by the time the incentive starts to phase out.
Well, except that 1000$ invested a couple years ago in a standard SP500 ETF would give you a ~1350$ payout today [1].
So basically, you are paying ~350$ of opportunity cost to take that decision.
[1] April 2016 (deposit date) VOO price was ~190$. Today it is 258$.
"Soon" is not the same as "already hit". Some likely gambled on beating the deadline and may cancel now.