Yes, but it only took a day or two for me to get an invite to the Beta after signing up. And I think if you sign up and refer 2 people you get in immediately (although they might have removed this by now).
From the FAQ (not sure if you can access it without being logged in though):
"Will you offer a free version of hosting?
Yes. You get one free application with one instance for 6 months. If you have one app that is using the free instance, you can delete it and you'll be able to create another free one to replace it."