Looks like this deal is back on. I used it last Friday to get from Auckland CBD to Greenlane (was a 25min ride with heavy traffic) and it worked fine, code brought it down from $24 to $5. Also, I'm not a new user so can confirm this works for existing users. Not sure if it is targeted.
My personal experience - I have taken 4 rides with Ola before and had no issues.
Dude, not allowed referral codes in description - if it's not working, contact a mod.