Looks like your markup isn’t using the correct syntax for the If tag since you’re not using one of the available core conditions. In this case, since you want to check the value of something, the condition you’d want to use would probably be check="{Get local=nolink}".
Thanks for the feedback, we’re reworking our docs platform at the moment so once the new docs platform is in place, I’ve made a note to improve the clarity of that tag. I think part of the confusion comes from the fact that at the top of that doc page you linked it says that the first part of the If tag structure is called the “subject” and the subject is required. But then a bit further down on that page it refers to subjects as “core conditions” so it’s not clear that those two things are synonyms.