NOLOCK = “READ UNCOMMITTED” = dirty reads
I’d assume MS knows why they chose the default isolation level as “READ COMMITTED”
NOLOCK, in fact any hint, should be used very judiciously: not by default.
Your DBA is a muppet. See this (SO): What can happen as a result of using (nolock) on every SELECT in SQL Sever?. If you happen to work at a bank, or any institution where I may have an account please let me know so I can close it.