Neil,
Right or wrong, anybody caught using the ratchet would be mocked. When everyone calmed down and stopped the chimpanzee noises, the answers were actually quite reasonable.
One reason (and I have definitely come across this problem) is that over time, the ratchet 'wears' and if you try measuring slip gauges, the ratchet fails to achieve the correct 'feel' and hence the correct measurement – and that is using a properly calibrated toolroom micrometer.
The second reason hinted at by Dave's answer is the need to try and train into the apprentice the correct 'feel'. This is important because there are many situations e.g., using slip gauges to measure a precise gap where a ratchet is obviously not available.
Finally, this might not apply anymore but many of the very best mircometers simply did not have a ratchet.
Phil H